Australia Tax Agency Clarifies Fringe Benefits Tax Exemption for Eligible Electric Cars, Associated Car Expenses

The Australian Taxation Office Nov. 20 clarified the fringe benefits tax (FBT) exemption for eligible electric cars and associated car expenses. The clarification includes: 1) an FBT exemption for employers providing the private use of electric cars meeting all specified conditions; 2) the conditions for being considered a zero- or low-emissions vehicle; 3) that electric motorcycles and scooters aren’t considered cars for FBT purposes and don’t qualify for the exemption; 4) that plug-in hybrid electric vehicles (EVs) won’t be considered a zero- or low-emissions vehicle from April 1, with exceptions; 5) the EV home charging rate of A$0.042 (US$0.027) per ...