Electric Vehicles are powered by electric motors rather than internal combustion engines.  They’re becoming increasingly popular due to their environmental benefits, lower operating costs and advancements in technology.  There are zero carbon emissions compared to traditional petrol vehicles hence why the government is encouraging Australian’s to drive them.

WHAT’S THE DIFFERENCE BETWEEN A HYBRID & AN EV?

There’s a lot of curiosity in the Australian market about Electric Vehicles (EV’s) and Hybrids – but what’s the difference?  The main difference between a hybrid & an EV lies in how they are powered.

A Hybrid Vehicle (HV) has both a conventional gas engine & an electric motor/battery system.  It can operate on either the gas or the electric motor (typically at low speeds or short distances), or a combination of both which makes it more cost-efficient that a standard petrol car.

An EV is plugged into power only (in order for it to operate) therefore if you purchase one of these you won’t have to pay Fringe Benefits Tax (FBT). Ask us how!

FINANCE ADVANTAGES WITH EV’S?

The government are creating financial incentives for Australians to drive EV’s.  This can vary from an employee to a business owner.  It’s best to give us a call so we can provide the best advice/direction on what’s the most tax-effective way to purchase it and if it’s suitable for you, your family or your business.  This can range from the following finance structures:

• Novated Lease
• Chattel Mortgage