Tasmania will become the latest jurisdiction to offer the stamp duty waiver for electric vehicles, after the state government delivered on its election promise, and following similar policies being introduced in New South Wales and the ACT.
The Tasmanian Liberal party had committed to the stamp duty waiver ahead of the state election held in May, as part of package that included funding for the roll out of additional charging infrastructure.
The Gutwein government announced this week that the waiver has now come into effect, and will apply to both new and used electric vehicle purchases. A wavier of stamp duty fees will help reduce the upfront cost of electric vehicles, helping to make them a more attractive option.
“This will reduce the initial higher purchase costs of EVs by around $2,000 on average, providing a significant boost to encourage interested Tasmanians to make the switch and support this growing market in Tasmania,” Tasmanian premier, and state minister for climate change, Peter Gutwein, said in a statement.
“Tasmania is ideally suited to benefit from the transition to EVs with our clean, low cost and reliable renewable energy, while at the same time reducing our dependence on imported fuels. The initiative starts today and will run for two-years, and I encourage all those interested to investigate making the switch, and to take advantage of this policy.”
The waiver came into effect at the start of July, and will run for a period of at least two years.
It follows a similar waiver announced by the NSW government, that will provide an exemption for electric vehicles with a purchase price below $78,000, which is just below the luxury car tax threshold, that will commence in September.
The ACT has had a long standing exemption for electric vehicles from stamp duty charges, and the territory recently extended electric vehicle incentives to include two years of waived government vehicle registration charges.
Please read this Explainer for a summary of all state EV initiatives. Explainer: Which Australian states offer the best incentives to buy EVs?