Certain configurations of Polestar vehicles are exempt from Fringe Benefits Tax, meaning eligible vehicles purchased through salary sacrifice arrangements (like a novated lease) or by business owners for company fleets could save you money over time.
Certain configurations of Polestar vehicles are exempt from Fringe Benefits Tax, meaning eligible vehicles purchased through salary sacrifice arrangements (like a novated lease) or by business owners for company fleets could save you money over time.
The Fringe Benefits Tax (FBT) is a tax payment required on certain employee benefits, known as fringe benefits. These are perks that employees may receive as a part of their job that are not their salary or wage, such as the private use of a company vehicle.
The Fringe Benefits Tax (FBT) is a tax payment required on certain employee benefits, known as fringe benefits. These are perks that employees may receive as a part of their job that are not their salary or wage, such as the private use of a company vehicle.
The government introduced the FBT exemption for electric vehicles to help propel the transition to electric vehicles in Australia. It was designed to help electric vehicles become more accessible and affordable.
The government introduced the FBT exemption for electric vehicles to help propel the transition to electric vehicles in Australia. It was designed to help electric vehicles become more accessible and affordable.
If your electric vehicle is exempt from FBT, this means the car’s associated expenses may also be exempt, such as registration, insurance, maintenance and the cost of electricity to charge your car, which can save you more.
If your electric vehicle is exempt from FBT, this means the car’s associated expenses may also be exempt, such as registration, insurance, maintenance and the cost of electricity to charge your car, which can save you more.
When is a vehicle exempt?
If you are an employer purchasing electric vehicles as a part of a business vehicle fleet, or an employee who has access to the private use of an electric vehicle through your work (such as through a novated lease), the Fringe Benefits Tax exemption may apply to you. If you are buying a car for private use with cash or through finance, the exemption likely does not apply to you.
If you are an employer purchasing electric vehicles as a part of a business vehicle fleet, or an employee who has access to the private use of an electric vehicle through your work (such as through a novated lease), the Fringe Benefits Tax exemption may apply to you. If you are buying a car for private use with cash or through finance, the exemption likely does not apply to you.
For a vehicle to be eligible for the exemption, the following conditions must all be met.
For a vehicle to be eligible for the exemption, the following conditions must all be met.
Certain configurations of Polestar 2 and Polestar 4 fall under the LCT threshold and are therefore exempt from FBT.
Certain configurations of Polestar 2 and Polestar 4 fall under the LCT threshold and are therefore exempt from FBT.
When you have selected your preferred Polestar in the Configurator or Available cars page, simply check the price breakdown. If no Luxury Car Tax (LCT) appears in your pricing breakdown, then this vehicle configuration is exempt from FBT.
When you have selected your preferred Polestar in the Configurator or Available cars page, simply check the price breakdown. If no Luxury Car Tax (LCT) appears in your pricing breakdown, then this vehicle configuration is exempt from FBT.
Novated leases
A novated lease is one of the most popular ways to benefit from the FBT exemption for electric vehicles and certain associated costs. If your vehicle does not exceed the LCT threshold, it will likely be exempt from FBT.
A novated lease is one of the most popular ways to benefit from the FBT exemption for electric vehicles and certain associated costs. If your vehicle does not exceed the LCT threshold, it will likely be exempt from FBT.
For more information on how novated leasing works and for a list of Polestar’s leasing partners, click here.
For more information on how novated leasing works and for a list of Polestar’s leasing partners, click here.
Fleet and business
Fleet managers and business owners can benefit from the FBT exemption with a fleet of Polestar electric vehicles. Polestar works with businesses of all sizes to cater to their company vehicle or fleet needs.
Fleet managers and business owners can benefit from the FBT exemption with a fleet of Polestar electric vehicles. Polestar works with businesses of all sizes to cater to their company vehicle or fleet needs.
For more information, visit our fleet and business page here.
For more information, visit our fleet and business page here.