electric vehicle tax deduction

Hunting for an electric vehicle tax deduction? In Australia, salary-packaged eligible EVs can be exempt from Fringe Benefits Tax under the Electric Car Discount, which is why novated leases are suddenly water-cooler chat.

If you’re a business buying an EV, you generally claim depreciation only up to the ATO car limit, plus running costs and GST credits to the extent of business use—no, the Sunday Bunnings run doesn’t count.

State rebates and rego/stamp-duty breaks sweeten the deal but aren’t tax deductions, and a home charger used for business may be depreciable.

The fine print matters: eligibility dates, price caps and private-use apportionment can make or break the numbers, so get advice before dropping the hard-earned AUD.