No stamp duty payable on electric vehicle purchases
No stamp duty will be payable on eligible new and used EVs purchased for under $78,000 (incl GST) in NSW.
From 1 September 2021, purchasers of new and used battery electric and hydrogen fuel cell vehicles purchased for under $78,000 (incl GST) will not pay stamp duty. This will put up to $3,000 back into the pocket of EV purchasers.
We know that the upfront cost is a major deterrent for many people considering buying an EV. The removal of stamp duty, along with the NSW Government’s significant rebate will save new EV purchasers up to $5,540.
The NSW Government will provide more details on how to apply for a stamp duty exemption in the coming weeks.