Three weeks ago the Albanese Government released the 2022-23 budget and decarbonisation of Australian fleets and investment into electric vehicles and charging infrastructure were one of the key areas that were addressed. We sat down to understand what this means and how it will impact electric vehicles and charging infrastructure over the next twelve months.
Electric Car Incentives
The Federal Government has announced electric car discount incentives to the value of $345 million over the next twelve months and this will be handed out through various ways.
Firstly, the Federal Government announced that they will be cutting the fringe benefits tax (FBT), for people that are willing to purchase electric vehicles for business purposes, with FBT savings of up to $9,000 per annum for an employer and $4,700 for an individual with a salary sacrifice agreement for a $50,000 electric vehicle.
Secondly, they will be cutting 5 per cent off the import tariff for battery-electric vehicles, which should see electric vehicle prices drop by approximately $2,500, making them more affordable. In addition to these cuts, the Federal Government has made a pledge that 75% of their fleet will be made up of Battery EVs by 2025 and is encouraging small businesses to decarbonise with a $62.6 million funding package for the electrification of their fleets.
With all these incentives for electric vehicle sales, what does it mean for electric charging infrastructure?
Whilst the Federal Government was busy announcing a range of incentives for electric vehicle sales, they did not forget about the infrastructure requirements that will require substantial investment over the next few years to cater for the increase of electric cars on the road with the announcement of the $500 million ‘Driving the Nation Fund’.
This fund will be used to rollout 117 EV charging stations and hydrogen refuelling stations for key freight routes across Australia. Aside from this the Government announced $13.3 billion investments into the overall Australian infrastructure, with a $125 million investment headed to WA to set up electric buses and charging stations alone.
With the investment into electric fleets and infrastructure, the Federal Government has noted that they will need to help with the electrifying of the nation, with plans to improve wiring and storage of the national grid, as well as money to provide affordable solar power solutions for those in cities and regional communities.
With so many electric vehicle incentives and infrastructure announcements, how can Gemtek assist?
Gemtek is the leading solutions provider for electric vehicle infrastructure, with the ability to design, project manage, install, and provide infrastructure maintenance in residential, commercial, industrial, and public locations and premises.
When making the decision to invest in your next electric car, fleet or charging infrastructure, speak with the team at Gemtek to help you find the right electric charging infrastructure for your premises and or requirement by contacting the team today on (08) 9248 1881 or email@example.com