Australia Winds Back EV Tax Breaks Amid $12.3 Billion Net Zero Pledge

A Tesla is seen charging in Queensland, Australia, on Sept. 27, 2024. Melanie Sun/The Epoch TimesElectric vehicle owners are facing a notable shift in the cost of going green, as the federal government moves to rein in tax incentives that have underpinned a surge in local sales.Treasurer Jim Chalmers has confirmed in the 2026-27 Budget that the government will scale back the Fringe Benefits Tax (FBT) exemptions for EVs. The decision comes after the cost of the scheme ballooned from an initial $90 million estimate to a projected $1.35 billion.