- Origin’s EV subscription targets company employees
- Salary sacrificed, utilises FBT exemption
- Month-to-month plans with a range of EV models
Electricity provider Origin Energy has launched a new novated electric vehicle subscription to lower the price barrier into an EV.
Company employers that offer the subscription will allow employees to salary sacrifice (or salary package) the plan from their income to take advantage of the federal government’s fringe benefits tax (FBT) exemption for EVs – and could also result in lowering the employee’s annual payable tax bracket.
Origin’s EV subscription is a month-to-month contract to allow customers to switch their EV model and plan per month (unlike a novated lease), with registration, insurance, roadside assistance and servicing costs included in the weekly fee.
Subscribers can also get access to the energy provider’s home EV Energy Plan, which provides five hours of free electricity between 10am to 3pm, and off-peak rates between 1am to 6am to save money on recharging an electric car at home.
The company also announced its selling smart EV chargers, offsetting the Jolt public charging network's electricity outputs, and partnering with Audi to offer e-Tron and e-Tron GT EV owners its EV Energy Plan and GreenPower renewable electricity offset add-on for 12 months.
AGL Energy and Carbar offer similar EV subscriptions in Australia, but can’t utilise salary sacrificing yet.
How much does it all cost?
According to Origin's website, a Victorian with a 39 per cent marginal tax rate (including the two per cent Medicare levy) can save around $195 per week by salary sacrificing a Tesla Model 3 subscription, costing from an estimated $305 per week.
EDITOR’S NOTE: Zecar recommends consulting an independent and registered accountant before making any financial decision.
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