Taxes on electric vehicles will be cut from next month, as Labor will starts to roll out plans to tackle climate change.
Chris Bowen, Minister for Climate Change and Energy told the National Press Club he will start implementing changes in just days.
“We promised to cut the tariffs and abolish the fringe benefits target on affordable EVs from 1 July and that’s exactly what we’ll do,” he said.
“Of course the Parliament doesn’t sit until late July so we’ll ask the tax office to make the normal arrangements to ensure it is implemented retrospectively from 1 July in accordance with the usual proceed quarter.”
He also detailed more about the Albanese government’s climate change bill, including the net zero targets.
He said the targets of a 43 per cent emissions reduction by 2030 and net zero by 2050 will officially be set.
Progress towards the targets will be published by the Climate Change Authority, which will also advise on a target for 2035.
The minister for climate change will also have to report on the progress to Parliament every year.
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