Australia Is Quitting Coal in Record Time Thanks to Tesla

Re:Australia Is Quitting Coal in Record Time Thanks to Tesla by IanCal on Monday April 10, 2023 @03:57AM (#35510122)

Not for the goal in the UK. The UK doesn't have a tax break for buying electric cars as regular people at home, it's for companies. The important tax break more specifically is around providing them to workers under what's called a "salary sacrifice" scheme where you forgo some of your income in return for a benefit in kind. The BIK rate for EVs is very low, meaning they're almost tax free. This is targeting people who get new cars under hire agreements, drive them for a few years then get a new one - the goal is to increase the second hand market.

also

> its the sane in britain - if you earn $200,000 income-tax-free means 50% off, but if you earn $20,000. it means like 5% off

For SS schemes the person earning £20k would be paying a marginal rate of 32%. Most people earning more than this have a marginal rate of 42%, then frankly the figures get complicated to explain but it's a very small minority of people that hit those levels.

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Re:Australia Is Quitting Coal in Record Time Thanks to Tesla by Reason077 on Monday April 10, 2023 @08:05AM (#35511346)

> *"The UK doesn't have a tax break for buying electric cars as regular people at home"

Not exactly true. Besides company car tax (BIK) benefits, electric vehicles are exempt from vehicle excise duty, which can save up to £4000 over the first 5 years of vehicle ownership. They are also exempt from congestion charges, low emission zone charges, etc, which can save thousands more. There's also no fuel duty on charging an EV, you only pay 5% VAT on electricity if charging at home, many local councils offer discounted parking and/or charging, and there is a grant available that pays 75% of the cost of installing a home charger.

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