You can get over $5000 back on your electric car - but only until the end of the year

You only have until the end of the year to take up this opportunity.

If you bought an electric car in the past two years you only have until the end of the year to get $3000 back on the purchase.

This is thanks to a Coalition government program that was announced in September 2021, offering rebates and stamp duty exemptions for the owners of the first 25,000 electric vehicles (EVs) claimed.

The car need to have been purchased after September 2021, and must be a battery electric vehicle (BEV) or a fuel cell electric vehicle (FCEV).

Cars like these Teslas could be purchased at a reduced rate with these rebates and exemptions. Picture: Justin Sullivan/Getty Images North America/AFP

Out of the claims, the government confirmed that by the end of November, only 10,229 rebatees had been paid, with 931 still being processed.

This means nearly 14,000 owners of EVs can still claim a rebate.

Both the rebate of $3000 and the stamp duty exemption can be claimed for the same vehicle.

Combined, these would allow EV owners to save as much as $5,540.

However, both of these benefits are ending at the start of 2024.

The Labor government is axing the program, instead promising to invest $260 million to “increase electric vehicle uptake” in the state.

The government wants EV charging in a wider range of areas. Picture: Getty Images

“The Government will prioritise investment in infrastructure for drivers in regional NSW, renters and people who live in apartments, and people who don’t have access to home charging so they can still take advantage of the cost savings from owning an EV,” a statement from the Minns government said.

“Increasing the number of electric vehicles on our roads is an essential step to NSW getting to Net Zero emissions,” Minister for Energy and Climate Change Penny Sharpe added.

Penny Sharpe said the Minns government wants to see more EVs on the road, and that the best path is through accesible charging infrastructure. Picture: NCA Newswire/Gaye Gerard

Behyad Jafari, CEO of the EV Council, said the rebates and exemptioned have allowed for more EVs to be bought in the west of Sydney, and that he was disappointed with the change.

“We weren’t a part of the decision to end the rebates, and we were surprised because it wasn’t something Labor campaigned on,” he said.

Full details on elegibility are available on the Service NSW website.

Originally published as You can get over $5000 back on your electric car - but only until the end of the year