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Hong Kong First Registration Tax

Discussion in 'Hong Kong' started by markwj, Feb 20, 2014.

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What do you think will happen to the Hong Kong EV 0% FRT Tax Break?

Poll closed Feb 25, 2014.
  1. It won't get renewed and EV incentives will be dropped.

    0 vote(s)
    0.0%
  2. It won't get renewed, but EVs given a FRT break somewhere between 0% and the hybrid discounts.

    0 vote(s)
    0.0%
  3. It won't get renewed, but EVs given the same FRT break as hybrids.

    0 vote(s)
    0.0%
  4. It will get renewed for a short time (1 or 2 years).

    54.5%
  5. It will get renewed for another 5 years.

    45.5%
  1. DITB

    DITB Charged.hk co-founder

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    If the FRT exemption goes on as we hope for, you made the right bet.

    If not, I hope you didn't go for the Signature. Full FRT, full spec Signature, and the price will more than double.

    1.0 M HKD becomes around 2.3 M HKD, if you apply full FRT.

     
  2. markwj

    markwj Moderator, Asia Pacific

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    Budget speech starts in 10 minutes. It should last up to 2 hours, and he should mention a few dozen words in the middle somewhere that will affect the fate of EV adoption in HK. Sounds dramatic, right? It is (IMHO).
     
  3. DITB

    DITB Charged.hk co-founder

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    Oh, I hope it's not going to take too long.

    Lord, give me patience. I need it now.

    Oh, its LIVE now!
     
  4. markwj

    markwj Moderator, Asia Pacific

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    Three more years!

    Proposal is to extend FRT extension for Electric Vehicles until 31st March 2017.
     
  5. lx3h

    lx3h Charged.hk's Director of Education

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    And The Verdict is...

    "YES"!!!!!!
    3 years!!! Till 31st March 2017
     
  6. markwj

    markwj Moderator, Asia Pacific

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    OK. Anyone still listening to the speech :)

    P.S. I am.
     
  7. Lerxt

    Lerxt Active Member

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    Now thats better than a poke in the eye with a burnt stick. ​YESSSSSSSSSS!!!!
     
  8. lx3h

    lx3h Charged.hk's Director of Education

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    But for Model E..... FRT...
     
  9. nov3698

    nov3698 Member

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    YES!!! will confirm the order later today, busy at work! Wahaha…!
     
  10. 772

    772 Member

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    I'm still listening... what should I be listening for, though? :confused:

    P.S. Congrats to all HKers
     
  11. Lerxt

    Lerxt Active Member

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    Listen for us partying. They just saved Tesla in Hong Kong. Otherwise we would have basically had the regular vehicle tax that would have doubled the price of our cars.
     
  12. markwj

    markwj Moderator, Asia Pacific

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    For those that like it in writing:

    The 2014-15 Budget - Budget Speech

     
  13. DITB

    DITB Charged.hk co-founder

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    This doesn't mean that it cannot be extended once again, come February 26th, 2017.

    I would predict that the FRT EV exemption, once cancelled, would be gradual. Something like 1% pr month increase, towards maybe 50% of the full FRT, starting April 1st, 2017.

    Remember, that FRT is not just against pollution, but also against congestion. Once the EVs beat the pants of the ICEs, which will be soon, hopefully, the sales will shift to EVs to an extent it can actually be felt in the budget. By that time, hopefully mass production will have caught up to ICEs, while battery prices will have fallen.
     
  14. CCT

    CCT Member

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    Haha funny how we all got it wrong: Neither "It will get renewed for a short time (1 or 2 years)" nor "It will get renewed for another 5 years"
     
  15. markwj

    markwj Moderator, Asia Pacific

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    Obviously a poorly design poll. Who set it up? Whoops, mea culpa,
     
  16. DITB

    DITB Charged.hk co-founder

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    Thanks for the quote, Mark.

    Now that we have seen and heard it, what does "propose" mean in Hong Kong law?

    In relationships, it is more of a question, than a promise, so I hope you can shed some light - now that probably 100s of us have "confirmed now", or will do so these hours and minutes.

     
  17. markwj

    markwj Moderator, Asia Pacific

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    I can't recall the last time (if ever) the budget wasn't accepted pretty much as proposed.

    But, last year the bill was proposed in Feb and passed in May. Not sure how that would affect a FRT exemption due to expire in March. My guess is they will get the exemption extended in some other way (perhaps it can be done by committee?) before April.

    I'll have a look how they did it back in 2009.
     
  18. 772

    772 Member

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    Anyone still watching the budget video? What just happened? Some person had to be removed from the room :confused:
     
  19. markwj

    markwj Moderator, Asia Pacific

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    And Long Hair just got thrown out of the chamber. See... it was worth continuing to listen.
     
  20. CCT

    CCT Member

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    Garbage are meant to be thrown after all.
     

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