Claiming at home electricity costs for a PHEV on a novated lease (Australia)

[Yeldarb]

Hi All,

New to the forum, posting here, apologies in advance if it needs to be shuffled elsewhere.

This is also quite specific to Australian EV owners as it relates to tax law.

As per the title, are any Australian EV owners who bought there car through a novated lease enjoying the exemption of fringe benefits tax?

(Electric cars exemption | Australian Taxation Office)

I’m keen understand how they are claiming their power usage of charging their EV at home?

Obviously doesn’t have to be an MG. This applies to any EV/PHEV under the luxury car tax threshold.

I’ve read below people are installing a separate meter at home which seems expensive or using a home charging unit that can track usage. This is mentioned below in the ATO forum

ATO Community

My silver HS arrives in Jan ‘24 through a lease and keen to get started.

Thanks
Brad

 

[beewell]

Following.

 

[Yeldarb]

Trolling FB pages, I came across a very recent post on a Mitsubishi PHEV page:

https://www.facebook.com/search/top/?q=NOVATED%20LEASE%20EV

"I have a self managed lease for an outlander with them also. I asked them about this and there are two options apparently (option 2 has only just been approved for use), you can only use one of the options per 12 month period:

Option 1: Claim energy usage - you need a itemized bill from the energy provider showing how much was used to charge the car, so essentially can only have the car on that meter. So either a separate meter or if you can get it on a controlled load circuit by itself then submit that bill and claim the actual energy usage.

Option 2: Claim 4.2c per kilometer travelled - you have to ring and confirm some declaration and provide odometer readings. You provide readings weekly/monthly or however you like and they will reimburse at the rate of 4.2c per kilometer.

I have only just got off the phone and I am trying to figure out which one is better. It would heavily depend on your electricity prices, if you can charge it mainly off solar then I am thinking claiming the c/km option. If you are on a higher tariff (0.36c/kwh) then claiming the actual usage is way ahead. A full charge on a controlled load rate is almost equal to a claim of 80km @ 4.2c/km.

Not sure yet which way I will go, but this seems the latest methods.

I'll add more here if I find a confirmation.