The ACT is making electric cars more expensive, and ‘slamming the brakes on progress’
The Australian Capital Territory’s latest budget will change the stamp duty concession of electric vehicles, making it more costly for owners to get them on the road. From September 1 this year, it will become more expensive to register electric cars in the Australian Capital Territory (ACT) – which has to date had a greater uptake of electric vehicles (EVs) than any other state or territory. Part of the ACT’s 2025-26 budget will see it “reducing motor vehicle concessions for zero emissions vehicles”, meaning stamp duty will soon need to be paid upon an EV, plug-in hybrid electric vehicle (PHEV), or hybrid electric vehicle (HEV) changing hands. According to the budget papers, the move is to “safeguard the sustainability and stability of [the state’s] revenue base as the electric vehicle market continues to mature” with electrified models soon to be hit with a minimum 2.5 per cent tariff. The tax will also increase “proportionally based on emissions and value”, with an 8 per ...