Northern Territory launches new EV incentive

Buyers of electric vehicles and plug-in hybrids Kingdom of the North Will be able to access various incentives from July 1, 2022.

There is a new subsidy scheme for electric vehicle chargers, announced last year in addition to registration and reduction of stamp duty, which is about to take effect.

The Territorial Labor Government this week allocated $ 300,000 for the Electric Vehicle Charger (Residential and Business) grant project.

This includes 100 residential grants of $ 1000, as well as 80 business grants of $ 2500 for the purchase and installation of EV chargers. These are actually available on a first come first served basis.

Territories must be home or business owners, meet the relevant property and charger type requirements, and own an NT-registered EV. The scheme is designed to increase the availability of chargers throughout the territory.

Although announced last year, the aforementioned registration and stamp duty reductions are only effective July 1 this year.

The registration and stamp duty exemption will run from July 1, 2022 to June 30, 2027, and the NT government has stated that it will apply for both full-electric vehicles and plug-in hybrids.

Registration is free for new and old EVs and PHEVs. This includes those who are previously registered, imported from abroad or transferred from interstate.

It is used for commercial purposes, including a private vehicle or heavy vehicle, regardless of whether the territories are eligible for a discount.

There is also a stamp duty waiver of up to $ 1500 for vehicles priced up to $ 50,000, which effectively eliminates the stamp duty for these vehicles completely.

Any amount above this price tends to attract three per cent stamp duty.

Conventional hybrids are not eligible, as the Territory government says “they do not represent significant changes from conventional vehicles and are unlikely to operate as zero emission vehicles”, although they have a large number in the used market and are generally more affordable than EVs.

These incentives are part of the Northern Territory’s Electric Vehicle Strategy and Implementation Plan 2021-26, which aims to help the Territory reach net-zero emissions by 2050.

The Territory Government aims to support local innovation in EV technology and develop skills in installing EV servicing and charging infrastructure, as well as increasing the number of EVs in its own fleet.

The pace of adoption of electric vehicles in the territory has slowed down. According to the Territorial Government, there were only 38 EVs on its roads in December 2020 In 2019, it said that 146,000 light vehicles were registered

“Local businesses and local families will benefit from this scheme – whether it is to install an EV charging system now or to incorporate a new asset into your business, it is a win-win for the region,” said Natasha Files, Chief Minister at Charger.

“The Territorial Labor Government will continue to invest in new industries, expand business opportunities and create jobs for Territories. We are slowly working towards the goal of 50 percent renewable by 2030 and zero emissions by 2050.

“We are protecting and creating a sustainable environment for all territories to enjoy. Such incentives and programs support jobs and our environment. “

Northern Territory is not alone in waiving stamp duty and registration.

All new and used EVs in the Australian Capital Territory are exempt from registration costs for two years, while stamp duty for new EVs is also waived.

New South Wales and Tasmania exempt new and used EVs from stamp duty (for less than $ 78,000 for NSW only)

The Territory Government has stopped direct subsidies for the purchase of EVs, introduced by NSW, Queensland, South Australia, Victoria and Western Australia.

More: What incentives are offered to electric car buyers across Australia?

Leave a Reply

Your email address will not be published.