Treasury Laws Amendment (Electric Car Discount) Act 2022 (86 of 2022)

Schedule 1   Electric car discount: exemptions from fringe benefits tax

Fringe Benefits Tax Assessment Act 1986

8   Review of operation of electric car discount

(1) The Minister must cause a review to be undertaken, in accordance with this item, of the operation of:

(a) the provisions of the Fringe Benefits Tax Assessment Act 1986 that are inserted or amended by this Schedule; and

(b) any provisions of the Customs Tariff Act 1995 that are inserted or amended pursuant to Customs Tariff Proposal (No. 5) 2022, which was moved in the House of Representatives on 2 August 2022 and of which notice was given by the legislative instrument numbered F2022L01001.

(2) The review must relate to the operation of those provisions, as so inserted or amended, during the 3 years from the commencement of this Schedule and, in particular, their effectiveness in encouraging the uptake of cars that are zero or low emissions vehicles.

(3) Without limiting subitem (2), the review must include consideration of:

(a) whether the operation of some or all of those provisions, as so inserted or amended, should continue; and

(b) what types of motor vehicles should be covered by the provisions.

(4) The conduct of the review must include consultation with the public about the matters to which the review relates.

(5) The review must be completed, and a report on the review must be given to the Minister, within 18 months after the end of the 3 years from the commencement of this Schedule.

(6) The Minister must:

(a) cause the contents of the report to be made available to the public as soon as practicable, and in any event within 28 days, after the Minister receives the report; and

(b) cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the Minister receives the report.