Business owners looking to switch their company car fleets to electric vehicles – and snap up recently legislated generous
The FBT exemption would mean a customer with a gross income of $95,000 using a 36-month novated lease through their employer to purchase a 2022 Tesla model Y would see their take-home pay reduced by $1364 a month, compared to $1863 under the current rules, according to Inside Edge. “While some fleets will transition quickly, all have been formulating forward positions for transition within three to five years. The timeframes take into account current infrastructure restrictions and the availability and cost of some fit-for-purpose vehicles.”, chief financial officer at ASX-listed vehicle leasing group Eclipx, which has 91,000 vehicles on its books via its fleet management and novated lease businesses, says novated EV inquiries jumped by 60 per cent this month.
“The new law helps to address the higher cost of an EV which has acted as one of the key barriers for Australians when considering making the switch to a zero or low-emissions vehicle,” he said.
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