Australia to Limit Tax Benefits for EV Buyers to Help Fix Budget

Australia will limit a tax discount aimed at encouraging purchases of electric vehicles as the center-left government looks for savings in next week’s budget.

From April 2027 for two years, only EV’s costing A$75,000 ($54,000) or less will receive the full discount on the fringe-benefits tax, the Labor government said in a statement. Cars that cost between that and the level at which the luxury car tax is imposed will receive only a 25% discount.

Then from 2029, the discount will be unified at 25% for any non-luxury vehicle, meaning a much smaller tax break for many buyers of ...