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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. Optic

    Optic Member

    Joined:
    Nov 10, 2014
    Messages:
    196
    Location:
    Hong Kong
    Agree with ditb, at some point it needs to be canceled much like What has happened to our parking perks. Same thing happened to the low emission tax break that was canceled earlier last year. Eventually Most cars met low emissions requirements (original goal) and the incentive could be removed. We Tesla owners have been pampered with free parking and electricity perks as well and some of us feel that we are entitled. To me, in fact these are all perks Which we should only be grateful for and expect us to be treated like any regular driver.
     
  2. Lerxt

    Lerxt Active Member

    Joined:
    Feb 21, 2014
    Messages:
    1,005
    Location:
    Hong Kong/Australia
    You have a group of backward "legislators" who really have no idea about how to run a civil society, much less a Transport Policy. They have massive pollution problems and need everyone in Ev's. And your answer to this is to give them ideas about how to tax EV's more? The last advice they got was from the Apple Daily and that resulted in our autopilot disappearing. How about you not put ideas in their head and let Telsa deal with it? Charged.hk is acting against EV owners interests, I'd suggest you keep out of it.
     
  3. Lee Tsui

    Lee Tsui Member

    Joined:
    Oct 2, 2014
    Messages:
    47
    Location:
    Hong Kong SAR China
    If anyone approaches them it should be to massage their fickle Cantonese egos and jerk them off about how smart they are they gave 0 FRT to EV and how much it is improving the city.

    I think the approach of polishing their egos and celebrating the PARTIAL success of their scheme (as full success is to remove all transport pollution from the streets) and to encourage them to keep up the good work.

    I don't think proposing a new taxation system will work because the proposal I just saw seems too overcomplicated.

    What I would consider as a fair proposal is that they offer 0% FRT or significantly lower FRT on EV cars below $50,000HKD and any value over that would be liable for a discounted luxury EV car FRT say of 25%.

    This would be similar to Australia's current luxury car tax of around 30% of anything over $70k AUD (which is **** there in comparison to HK, because that luxury car rate is pretty much the same as regular cars there so you benefit nothing from EV really in AUS)

    But at least this way, people with less disposable income are more inclined to change to an affordable EV such as a Model 3 or BMW i3.

    Besides selfishly for me I wouldn't mind a bit of FRT adding to EV's as then my 2nd hand car value increases just in time to emigrate and buy a Model X with the spoils muhohohoho.

     
  4. DITB

    DITB Charged.hk co-founder

    Joined:
    Nov 13, 2012
    Messages:
    1,581
    Location:
    Hong Kong
    We are not just going to sit back and do nothing, while they cancel the FRT exemption entirely.

    That's why we have the discussion HERE (and elsewhere), to find the best way forward. Sure, if we find that the majority wants another extension - that's great! But there has been a lot of noise along the lines of "HK financing rich peoples luxury cars". You and me and most people in here knows that in this early stage of the technology, EVs needs a push to compete with ICEVs, but many people just see a loophole for tax evasion.

    With so many EVs on the roads now, most of them costing between half a million and a million, it would be more challenging to keep these dark forces out. Crossing fingers and praying, hoping the problem will solve itself, is not what I suggest as the best solution. If we don't speak up, only the people who are against EVs will be heard. The proposal is a very mild transition, which will take over 8 years to implement. Over those 8 years, battery technology and mass production should have passed ICE/fossil based vehicles already.

    Differentiating between ICEVs and EVs at a later stage could be manifested in a proper pollution tax, not registration tax.
     
  5. waidy

    waidy Member

    Joined:
    May 6, 2012
    Messages:
    257
    Location:
    Los Altos Hills, CA
    I think point should be made (in additions to all your good points) would be the financial benefit on reduction of health care caused by the pollution. In additions, how would the money saved in health care to help on road maintenance in Hong Kong. I would really like 100% FRT be waived for BEVs.
     
  6. lx3h

    lx3h Charged.hk's Director of Education

    Joined:
    Jan 3, 2014
    Messages:
    1,331
    Location:
    Hong Kong SAR China
    Hedley Environmental Index

    Waidy, I agree, health is money, as shown by the Hedley Environmental Index by HKU.

    Hedley Environmental Index

    I always think the best way to promote EV is to raise ICE FRT by 100%.

    擷取.JPG
     
  7. markwj

    markwj Moderator, Asia Pacific

    Joined:
    Apr 10, 2011
    Messages:
    4,262
    Location:
    Hong Kong
    Huh? Why charged.hk? What has this got to do with charged.hk? Perhaps you are mistaking DITB's personal views with charged.hk policy? My own personal view is that 100% FRT exemption should be maintained for EVs, and FRT should be gradually increased for fossil fuelled vehicles, until every last fossil fuelled car is off the roads. But, that is a personal view, and given where we are today I don't think it will be achievable.

    To be clear: The policy of charged.hk is that incentives are required to accelerate the adoption of EVs into HK, and this FRT incentive is a large part of that. It should be maintained.

    The question here is how long can that incentive be maintained, given the political climate?
     
  8. ck1116

    ck1116 Member

    Joined:
    May 21, 2014
    Messages:
    112
    Location:
    Hong Kong
    I totally agree with you! This will benefit both the society and government, and also speed up the EV adaptation progress.


     

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