We recently forwarded a submission to Treasury in relation to its ‘Statutory Review of the Electric Car Discount’. We prepared a submission in response to a statutory review of the electric car discount due to a considerable underestimation of cost.

Key recommendations in our submission included:

• retain the FBT exemption for eligible electric vehicles and retain the current eligibility requirements;
• reinstate the FBT exemption for plug-in hybrid electric vehicles to reward individuals moving away from petrol and diesel-powered vehicles whilst the infrastructure around charging stations is improved;
• exclude FBT-exempt electric vehicles from the reportable fringe benefit rules; and
• continue the tariff concession that provides a 'free' rate of customs duty for eligible imported electric vehicles under the fuel-efficient luxury car tax threshold.

Editor: A copy of our written submission is on our website — click here.