Home About Us Our Services Testimonials Latest News Client Resources Contact Us Make an Enquiry
"Ajen is an accountant who is down to earth and genuinely interested in their clients prospering."
"As a trusted advisor you guided our business back on course when the outlook was far from positive and we look forward to your continued assistance into the future"
"His attitude towards his work and my portfolio has been exemplary. He always finds time for me at short notice and is a benefit to all."
"Ajen always has a high standard of professional manner. He continued to give me good advice and is a reliable person, helpful in sorting out problems and finding solutions easily."
"Ajendra has made himself available sometimes even after normal business hours, to assist us with any questions we have, even when sometimes they may have seemed silly or simple, he has answered in full and easy to understand terminology, at no point has he ever made me feel silly for asking."
"He is always accessible to speak with and even calls me to ask if I need help with anything."
"Ajendra's willingness to dedicate "caring time" to his clients sets him apart from others."
"I am confident to refer friends and family to his team because I know they are in the most capable hands. Ajendra’s honest, caring and upbeat nature has been an absolute godsend and I am so thankful that our paths crossed"
"Ajendra’s speaks with you in a language that you can understand and comprehend easily which assists in equity and partnership with your tax agent."
"We find you have a personal approach to your accounting practice, which makes everyone feel like number 1. This is a rare and special trait, and leaves us knowing we are in good hands."
"He is very astute, and at the same time down to earth and really interested in his clients prospering. For people like us who are new to small business this is an absolute god sent."
"He shows a genuine interest and I never feel rushed. He has created a warm and friendly environement."

Temporary FBT break lifts plug-in hybrid sales 130%

Share this article:

An industry body warns strong take-up will only continue if the generous tax break remains.

.

Generous FBT exemptions on low-emission vehicles are working as intended, an industry body says, with the latest figures showing sales of plug-in hybrids (PHEVs) up 130 per cent in the first half of the year.

Novated leases peak body National Automotive Leasing and Salary Packaging Association (NALSPA) said the tax break was “opening the door” for Australians to choose more eco-friendly vehicles.

“The overwhelming feedback we are getting from our members and their customers is that the FBT exemption is undoubtedly driving Australians across metropolitan and regional locations to get behind the wheel of PHEVs,” chief executive Rohan Martin said.

 

PHEVs accounted for 17 per cent of all electrified passenger and SUV sales last month, up from 6.6 per cent in June 2023, and made up around 22 per cent of electrified SUV sales for the year to date, up from 10.6 per cent in the first half of 2023.

Regular hybrid vehicle sales were also up 113 per cent, according to data from the Federal Chamber of Automotive Industries.

FBT exemptions were introduced in 2022 for novated car leases of EVs or PHEVs worth below $89,332. It allows taxpayers to deduct the cost of finance and maintenance of an EV from their pre-tax salary.

The exemption on an eligible vehicle valued at $50,000 can save employees up to $9,000 annually.

While the tax break is permanent for EVs, it will no longer apply for PHEVs starting 1 April next year.

Martin said PHEVs were an important low-emissions option for many drivers who were not prepared to make the switch to a fully electric vehicle. “Australians want to reduce their carbon footprint and their vehicle running costs, but for many making the transition to a full EV is not an option that suits their transport, lifestyle or work needs, especially for those living in regional Australia.”

He said PHEV sales would continue surging as long as the FBT exemption remained.

“For many, the FBT exemption makes PHEVs more attractive than their traditional combustion engine equivalent models, especially when reducing emissions is a key consideration.”

“Every PHEV purchased drives down Australia’s total transport emissions and that’s critical for our journey to net zero.”

 

 

 

Christine Chen
05 July 2024
accountantsdaily.com.au

Want to know more?

Do you have a question about something you've read in this article? Need more information? Want to book an appointment? Simply let us know below and we'll get back to you ASAP.

Share this article: