 Government legislation has been implemented in relation to electric vehicles. From the 1st of July 2022 employers do not pay Fringe Benefit Tax on eligible electric cars and associated car expenses. This means that in any occupation, if your employer provides salary packaging, you can package an electric vehicle and its associated car expenses such as registration, insurance, repairs or maintenance and fuel (including electricity to run the electric vehicle).
It can be very beneficial to pay for these car expenses and your electric vehicle as part of your salary packaging agreement as it can result in great tax savings and better take home or net pay. For more information on the recent legislation changes on the Fringe Benefits Tax on eligible electric cars please click here. To review your circumstances and see if salary packaging an electric vehicle is beneficial for you, feel free to contact us. Comments are closed.
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