Electric vehicle tax cut passes Senate

Electric vehicle tax cut passes Senate

Thousands of dollars will be slashed from the price of some electric vehicles in Australia after the Senate approved a tax cut following last-minute negotiations with crossbench senators. The Electric Discount Car Bill is expected to pass into law on Friday after the Senate voted in favour of the proposal by 31 to 24 votes. The new law is expected to cut fringe benefits tax for electric vehicles costing less than $84,916. Under the new rules, employers could save up …