If you’re a new Electric Vehicle (EV) owner or are in the market for one, now is the time to take advantage of the New South Wales government’s rebate.
Two years ago, the NSW government announced that 25,000 rebates would be made available for NSW residents buying full battery electric or hydrogen fuel cell cars. The time to claim that rebate is coming to an end in January, meaning any EV owners (or prospective owners) have under two weeks to take action.
As per the NSW government’s EV strategy website, a $3,000 rebate is available to the first 25,000 new battery electric and hydrogen fuel cell vehicles purchased with a dutiable value of less than $68,750. This, along with the removal of stamp duty, can save EV purchasers up to $5,540.
Eligible vehicles have been available to be claimed from September 1, 2021, until January 1, 2024. As per the terms of the rebate on the website, this also includes those who have purchased a vehicle and are waiting for its delivery:
Individuals and businesses that have purchased or placed a deposit on an eligible EV prior to January 1, 2024, and are awaiting delivery of the vehicle, will still be eligible to receive the stamp duty exemption and rebate, regardless of whether the vehicle has been delivered by that date. This will ensure that purchasers who are unable to register their vehicle by December 31, 2023, are not disadvantaged for delays in delivery.
While you may think these 25,000 rebates would be snapped up quickly, according to 7 News, only a little over 10,000 of the packages have been claimed, leaving plenty up for grabs.
According to a NSW government press release from September, the incentive is ending due to “risk driving up the cost of EVs, resulting in increased profits to manufacturers.”
In place of the rebate scheme the Minns government is introducing a $260 million investment in EV infrastructure in NSW, allowing for more fast charging stations, kerbside chargers in apartment blocks and upgraded grid capacity.
All of this is to say that if you’re a new or recent EV owner in NSW, you’re quickly running out of time to take advantage of this scheme, so apply while you still can.
In order to apply, you’ll need a current and valid NSW driver’s licence, a certificate of registration for the vehicle and proof of Registration Entitlement showing the sales price and date of purchase of the vehicle. If approved, a rebate will then be paid within 15 business days of the completed submission.
Lead Image Credit: iStock
The Cheapest NBN 50 Plans
Here are the cheapest plans available for Australia’s most popular NBN speed tier.