28th October, 2021 ยท bulletin

NSW Electric Vehicle Incentive Scheme

2 minutes to read

The NSW State Government is introducing incentives from its EV Strategy to encourage motorists to purchase full battery electric vehicles (BEVs) and hydrogen fuel cell electric vehicles (FCEVs). From 1 November 2021, purchasers of eligible BEVs and FCEVs will be able to claim back a rebate and their stamp duty exemption from the NSW Government.

ELECTRIC VEHICLE REBATES

New full BEVs and FCEVs with a dutiable value of less than $68,750 (incl. GST) will be eligible for a $3,000 rebate from the NSW Government for the first 25,000 vehicles sold through the program.

  • Individuals can claim one rebate for an eligible BEV or FCEV
  • Small businesses or organisations with a fleet of less than 10 vehicles can claim up to 2 rebates for two eligible vehicles.

The full list of eligibility criteria for claiming one of the 25,000 rebates will be provided prior to 1 November 2021 on https://www.nsw.gov.au/electric-vehicle-reform.

 

STAMP DUTY EXEMPTION

In addition to the rebate, NSW residents and businesses who purchase a new or used full BEV or FCEV with a dutiable value up to and including $78,000 (inc. GST) can also claim a stamp duty refund.

The full list of eligibility criteria for a stamp duty exemption refund will be provided prior to 1 November on https://www.nsw.gov.au/electric-vehicle-reform.

 

PROCESS FOR CLAIMING A REBATE AND/OR STAMP DUTY EXEMPTION

The rebate and stamp duty exemption are available retrospectively for eligible vehicles purchased and registered from 1 September 2021 and can be claimed by the customer via the NSW Government online portal after the sale has been finalised and the vehicle registered.

The program is designed to apply directly to buyers of eligible BEVs and FCEVs and will not be managed by dealers. Buyers are responsible for determining their eligibility under the scheme and for claiming any rebate or stamp duty exemption to which they may be entitled.

Members are advised to direct all enquiries from customers and potential customers to NSW Government EV Strategy webpage at: https://www.nsw.gov.au/electric-vehicle-reform

From this page, customers will be able to access the online portal from 1 November 2021. The online portal will take consumers through the process of allowing them to determine their eligibility and then register for the program so that they can claim both the rebate and stamp duty exemption they may be entitled to on their vehicle.

Further information about the operation of the scheme is available on the above website, which will be updated as the program is rolled out.

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