If Labor is serious about EVs, a fringe benefit tax fix is ​​the next step

Energy Minister Chris Bowen on Friday came a little closer to what Australia would take Electric vehicles are getting serious, but the workers aren’t there yet.

If it’s serious, billions of dollars per year will be lost to the government. Subsidies for fossil fuel vehicles.

Since Abbott and the Hockey Opposition Adopted Salary Packages,
Industry Money (Liberal Party’s $250,000 2013 Donation)
campaign) and Shorten opposition then rolled over
Similarly, I used Party Conservative Unfair, wasteful and falsified leases lurk as a test of their financial integrity.

Both parties keep failing.

The entire salary package industry is a dubious proposition. Some people come to take advantage of tricks that minimize taxes that others are denied. It is not a sound foundation for a fair and rational tax system.

And it’s very expensive for the Commonwealth.Just “structure” the fringe
Benefit Tax (FBT) and GST aspects of car leasing for minority employees It costs the rest of us around $1 billion a year.

To keep its carbon reduction promises, the government is asking Australia Catch up with other developed countries in the penetration rate of electric vehicles.

The first step was to eliminate the Fringe Benefit Tax (FBT) on employer-provided EVs. Tick. It helps a little, but not much considering how expensive EVs are today.

Carbon burners (including Australia’s best-selling model, the ubiquitous Ute) have FBT exemptions, but no comparative advantage.

The second step is to meet average developed country standards.
Vehicle emissions, as shown by climate change and energy
Minister on Friday. Chris Bowen has only promised a “discussion paper” at this stage, and real change will have to be fought against a strong and connected lobby.

a step waiting to be taken

It’s another step, but continuing to cut taxes on fossil fuel vehicles means
Government policy contrary to itself. Eliminating all benefits for tax breaks, lurking carbon burners, is clearly not a game for governments to signal, let alone take, the third step.

But seriously, there is a fourth step.using the tax system
Apply both carrots When stick – the advantage of zero-emission vehicles,
Penalties for fossil fuel users.

It is being submitted to a current Senate committee inquiry
The congressional bill “amends the tax code to promote greater profits.
Making electric vehicles popular with Australian road users
More affordable and reducing Australia’s carbon footprint.
transportation department

Recommendations of the Senate Committee and
legislation.The Nature of the Greens and Pocock Power Balance
Senate and Greens/Teal Moral Pressures and Potential Threats
The House may still oppose the status quo lobbying.

Diane Kraal, Lecturer in Business Law and Tax at Monash University, said:
appear before the committee on Thursday,
Submission from a joint research project between Monash and Griffith University
Augmenting the EV fleet.

zero emissions or zero emissions

The 11 recommendations would end all tax cuts for fossil burners, including hybrids – it’s nothing for zero emissions or tax subsidies.

The cost of the EV tax cut budget is
For fossil fuel vehicles remove them and apply FBT to slides
Penalty scale based on emissions – the more carbon burned, the higher
FBT rate.

The Monash-Griffith project has a fleet manager
Over 40% of new lights
Vehicle sales are for businesses. These are vehicles that tend to do so. rolled into the private second-hand market It will drive wider adoption in the years to come.

Allowing EV to take advantage of FBT breaks can calm pay packages
Nevertheless, it remains fundamentally unfair.

Labor policy in 2013 would have scaled back by scrapping renewed leases.
said industry. With unemployment so low, this is a great opportunity.
Move to principles-based policies rather than political donations,

There is an opportunity in this political cycle.
government ticker to answer.

If Labor is serious about EVs, a fringe benefit tax fix is ​​the next step

Source link If Labor is serious about EVs, a fringe benefit tax fix is ​​the next step

Back to top button