Labor Electric Car FBT discount

[Vostok]

So it’s official?

Well, there are degrees of “official”

For most, a Bill passing both houses is enough, because the process of Assent and a Bill becoming law is just a formality after that. This Bill doesn’t have a start date set in the future and in fact is retrospective to 1 July, so for all intents and purposes it should now be considered “law”. It appears that Government websites have taken that position

Some would say - wait until the GG has signed it, because theoretically he could refuse to sign it, or refer it to King Charles III to sign. While these are notionally possibilities, in the same way that the sun might not rise tomorrow, I think we can say they are unlikely.

For constitutional lawyers, it’s not officially law until it is listed an an Act in the Parliamentary Register of Legislation. That hasn’t happened yet.

 

[Maximillan]

The Novated Lease providers are treating it as a done deal with their marketing and pricing, so it's done.

 

[hk12]

My NL providers has still not provided the new quote and waiting for Royal ascent. Any idea if this will get signed this week ?

 

[EdwinY]

Hi everyone, I am new.

I ordered a Telsa 3 LR White + 19 wheels last week and it just made it under the LCT. If I had ordered another colour it would have not qualified. I have been told pick up is in early January.

Anyways the FBT legislation has now been given Royal Assent and is law.

Here are some quotes from a Leasing company. I'm using NRMA Insurance for $1100 and I put fuel/electricity at 50c to average out 30c/60c chargers.

 

[AndrewSa]

Sg fleet now providing FBT free quote and ECM quotes saying law hasn't passed yet and will transition across to pre tax later ...

 

[EdwinY]

Fringe benefits tax and electric cars

The Government has announced a proposal to remove fringe benefits tax on eligible electric cars from 1 July 2022.

www.ato.gov.au

It became came law a few days ago, you can show them the link from ATO website.

 

[Vostok]

By the way, it received Assent yesterday and is now an Act... so everyone can now stop angsting over this .

Treasury Laws Amendment (Electric Car Discount) Bill 2022

Helpful information Text of bill First reading: Text of the bill as introduced into the Parliament Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house. As passed by

www.aph.gov.au

 

[Vostok]

And here’s the link to the Act on the Federal Register of Legislation. It actually received Assent on Monday, my bad.

https://www.legislation.gov.au/Details/C2022A00086