ev salary packaging

Salary packaging an electric vehicle (EV) in Australia is a clever way to save some serious coin on your next set of wheels, especially if your employer is on board with fringe benefits tax (FBT) concessions. Essentially, you sacrifice part of your pre-tax salary to cover the cost of the EV, which can significantly reduce your taxable income. This can include lease payments, running costs, and even charging equipment.

Key points:

• Potential FBT exemptions or reductions for EVs under certain thresholds.
• Monthly savings depend on your tax bracket and salary packaging limits.
• Best suited for employees with stable income and willingness to lock into lease terms.

For the nitty-gritty details and to see if you qualify, check out your employer's salary packaging provider or platforms like ServiceCentral.