How to get a tax break on your EV before it’s too late

Buying an electric vehicle may not only help save the planet but save you tax as well. Here’s how to take advantage of this perk.

Michelle BowesWealth reporter

Mar 13, 2025 – 5.41pm

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Thanks to a generous tax break introduced in 2022, sales of new electric vehicles made under a novated lease are booming.

To attract the perk, cars must be zero or low emission, a classification that covers battery EVs, hydrogen fuel cell EVs or plug in hybrid electric vehicles – cars that combine a petrol engine with an electric motor and a battery.

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

License article

Introducing your Newsfeed

Follow the topics, people and companies that matter to you.

Find out more

Michelle BowesWealth reporterMichelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls.