Changes to NSW EV incentives

[richardnau]

For those interested in the changes announced today by the NSW Treasurer, here's the official text:

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Important changes from 1 January 2024

The stamp duty exemption and the rebate for all eligible EV purchases will end on 1 January 2024.

Individuals and businesses that have purchased or placed a deposit on an eligible EV prior to 1 January 2024, and are awaiting delivery of the vehicle, will still be eligible to receive the stamp duty exemption and rebate, regardless of whether the vehicle has been delivered by that date. This will ensure that purchasers who are unable to register their vehicle by 31 December 2023, are not disadvantaged for delays in delivery. Further information will be released soon regarding these arrangements.

In addition, all battery electric, hydrogen fuel cell electric and plug-in hybrid vehicles that are registered for the first time or transferred from 1 January 2024 will be liable to pay the road user charge (RUC) once it commences, which is the earlier of 1 July 2027 or when battery EV sales reach 30 per cent of new light vehicle sales.

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Should create a nice burst of orders before 31 Dec for EV sellers...

 

[cafz]

I believe the rebate wasn't available if you took a novated lease anyway, right?

 

[moadel82]

I believe the rebate wasn't available if you took a novated lease anyway, rightmy understanding is that novated leases are mot eligible for the rebate but can benefit from the stamp duty exempt.

 

[schnaxxl]

I believe the rebate wasn't available if you took a novated lease anyway, right?

I understood that it was - at the time I ordered my M3LR the price was above the threshhold so I didn't qualify

 

[Rolond]

You are not eligible for the rebate with a novated lease as per this:- Rebates for electric vehicle purchases

It isn't clear in regard to the stamp duty exemption

 

[B3AU]

You are not eligible for the rebate with a novated lease as per this:- Rebates for electric vehicle purchases

It isn't clear in regard to the stamp duty exemption

EVs are (for now) exempt from stamp duty, so you don't pay it in the first place, whether it's paid with cash, or on finance (including a novated lease)

Stamp duty exemption on electric vehicle purchases

A stamp duty exemption is applied to eligible new and used electric light vehicles (EVs) under 4.5 tonne gross vehicle mass (including motorcycles) registered from 1 September 2021 in NSW. The exemption will end on 31 December 2023.

www.nsw.gov.au

 

[FilthyCyberRat]

Has anyone competed this and got their refund? Mine is still showing as an open application and is now 2 weeks over their self-proclaimed deadlines.

 

[FilthyCyberRat]

For anyone that stumbles across this and is also wondering where their Stamp Duty refund is in NSW. I got an email back from the dept on 28th March.

“We are currently experiencing a large increase in applications which is affecting current assessment time frames. All applications will be reviewed in order of which they were received. We are currently assessing applications from the 13th of February 2024.”

 

[SpokenFour]

Submitted mine 6/3/2024, paid by 27/03/2024 so not too bad all things considered.