- 40 percent of businesses surveyed will buy an EV in the next year.
- Most were small or medium-sized entrepreneurs.
- Electric car discount subject to bill passing.
A new survey has found that 40 per cent of Australian businesses will buy an electric vehicle by the end of 2023 if the Electric Car Discount Bill is passed.
In July this year, the Albany government introduced the bill to Parliament, which aims to remove the fringe benefit tax (FBT) from electric vehicles to allow more Australians to buy battery-powered, hydrogen-fuelled and plug-in hybrid cars. Can be accessed.
New research has revealed the bill’s popularity among businesses – mostly SMEs – with 40 percent indicating they would buy an electric vehicle by the end of 2023 if the bill is passed.
The research, commissioned by Small Business Loans Australia, surveyed an independent panel of 210 Australian SME owners and decision makers.
“The Federal Government recognizes that the cost of electric vehicles has been a major barrier to their adoption in Australia,” said Alvin Rajic, founder and managing director of Small Business Loans Australia.
“Our research shows that removing this barrier will have a hugely positive impact on business purchasing decisions. It also indicates that Australian business owners are realistic about government efforts to achieve net zero emissions. support – so much so that they will finance their costs. vehicles in a rapidly rising interest rate environment.”
Of those surveyed, 44 percent were micro businesses (one to 10 employees), 27 percent were small businesses (11-50 employees), and 18 percent were medium-sized businesses (51-200 employees), and 11 percent were businesses. With more than 200 employees.
Interestingly though, 34 percent of business owners said they would not invest in electric vehicles, regardless of the bill’s introduction.
Among them, small businesses said they would likely make purchases by the end of 2023 – including 57 percent who said they would, compared to 45 percent of medium-sized firms and 21 percent of micro companies.
Breaking down the data potentially by state or territory, the study found Victorian businesses are more likely to buy an electric vehicle at some point if the bill is passed – an option chosen by 71 per cent of respondents.
Meanwhile, 68 per cent of businesses in NSW and 67 per cent in South Australia said the same, and Western Australia and Queensland were the least likely to invest – just 62 per cent and 58 per cent respectively if the legislation was implemented. I chose to switch. makes it through.
If passed, the bill would exempt certain purchases of electric vehicles from being liable to fringe benefits tax. However, the exemption only applies to cars below the luxury car tax threshold (set at $84,916 for 2022-23) and which can also be used by employees as personal vehicles.