At Maxxia, we know the EV Revolution is here and more people than ever before are making the switch to electric and plug-in hybrid electric vehicles.

As part of its ‘Powering Australia’ plan, the Federal Government have announced a national strategy that seeks to increase the supply and uptake of electric vehicles as we eye off a national target of zero emissions by 2050.

There’s a growing number of new EV makes and models available, with charging infrastructure growing all the time.

And now, thanks to the government’s Electric Car (EV) Discount on novated leases, there's never been a better time, or way, to save on an EV.

How the EV Discount Works

Under the discount, eligible battery-electric (BEVs), hydrogen fuel cell electric vehicles (FCEVs) and plug-in hybrid electric vehicles (PHEVs) are exempt from the payment of fringe benefits tax (FBT) up to the Luxury Car Tax threshold of $91,387, as of the 2024-25 financial year.

The vehicle must be new, and not used before the 1 July 2022.

This means that a novated lease on an EV differs from that of a fuel-powered vehicle, because there is no post-tax component to payments – which could mean thousands of dollars in annual savings.

An important thing to consider is that plug-in hybrid vehicles are only eligible until 1 April 2025, although those on pre-existing leases will remain FBT-exempt up until the end of their lease.

Separately, the Government also removed the 5% import tariff exemption that applies to some imported EVs.

“A novated EV lease has the potential to provide a significant financial saving directly to employees, which they are likely to not be able to achieve outside of their employment arrangement,” Maxxia’s managing director Kylie Chambers says.

A (Growing) List of Vehicles Eligible for the Discount

• Alfa Romeo Tonale PHEV
• BMW i4
• BMW iX1
• BMW iX2
• BMW iX3
• BYD Atto 3
• BYD Dolphin
• BYD Seal
• Cupra Born
• Cupra Formentor VZe
• Cupra Leon VZe
• Fiat 500e
• Ford Escape PHEV
• Ford Mustang Mach-E
• GWM Ora
• Hyundai Ioniq 5
• Hyundai Ioniq 6
• Hyundai Kona
• Kia EV6
• Kia Niro EV
• Kia Sorento PHEV
• Lexus ux300e
• Mazda CX-60
• Mazda MX-30
• Mercedes-Benz A250e
• Mercedes-Benz EQA
• MG 4
• MG HS+ PHEV
• MG ZS EV
• Mini Cooper SE
• Mini Cooper Countryman PHEV
• Mitsubishi Eclipse Cross PHEV
• Mitsubishi Outlander PHEV
• Nissan Leaf
• Peugeot 3008 PHEV
• Peugeot 308 PHEV
• Peugeot 508 PHEV
• Peugeot e-2008
• Peugeot e-Partner
• Polestar 2
• Polestar 4
• Renault Megane E-Tech
• Tesla Model 3
• Tesla Model Y
• Volvo C40 Recharge
• Volvo EX30
• Volvo XC40 Recharge

*Courtesy of the Electric Vehicle Council.

With the new Electric Car Discount, it’s a great time to join the EV Revolution. And with the help of Maxxia, you could feel confident you’ve made the right choice in making your money work for you.

Take charge and contact us today to find out how!