The Northern Territory Government is taking the next steps towards a renewable future with a range of initiatives commencing July 1 aimed at increasing EV uptake in the Territory.
From July 1, the Northern Territory Government will reduce registration and stamp duty fees for plug-in EVs and introduce the Electric Vehicle Charger (Residential and Business) Grant Scheme.
This means the average Northern Territory household could reduce EV running costs as well assist the Territory in hitting its net-zero emissions by 2050 target.
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$300,000 has been allocated for this grant scheme, which will includes 100 residential grants of $1,000 and 80 business grants of $2,500. The grants are for the purchase and installation of EV chargers. This grant will assist Territorians with approximately half the costs of a charger and installation, and will increase the availability of chargers across the Territory.
To further incentive Territorians to purchase EVs the Territory Government is waiving the stamp duty payable on the purchase of a plug-in EV from July 1, 2022, to June 30, 2027.
Stamp duty is calculated at 3 per cent of vehicle purchase price. This incentive means that no stamp duty will be paid on $50,000 of the purchase price, representing a saving of up to $1,500.
Investing in EVs and providing the necessary infrastructure is in line with the Northern Territory Government’s Roadmap to Renewables, the NT Climate Change Response Towards 2050 and the Digital Territory Strategy.
Chief Minister Natasha Fyles said, “The Territory Labor Government will continue to invest in new industries, expand business opportunities and create jobs for Territorians. We are progressively working towards a target of 50 per cent renewables by 2030 and zero emissions by 2050.
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“We are protecting and creating a sustainable environment for all Territorians to enjoy. Incentives and programs like this supports jobs and our environment.
“$300,000 will be invested in supplying part of the cost of installing an EV charger on your home or business. Northern Territory businesses and local families will benefit from this scheme—whether it’s receiving the work now to install EV charging system or to include a new asset to your business, it’s a win for the Northern Territory.”