{"id":18161,"date":"2026-02-02T21:34:34","date_gmt":"2026-02-02T21:34:34","guid":{"rendered":"https:\/\/microvibenews.com\/?p=18161"},"modified":"2026-02-02T21:34:34","modified_gmt":"2026-02-02T21:34:34","slug":"australia-politics-live-liberals-joke-they-need-divine-intervention-as-parliament-returns-labor-announces-discount-loans-for-evs-australia-news","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=18161","title":{"rendered":"Australia politics live: Liberals joke they need \u2018divine intervention\u2019 as parliament returns; Labor announces discount loans for EVs | Australia news"},"content":{"rendered":"

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Labor announces cheaper loans for electric vehicles<\/h2>\n<\/header>\n

The government has announced cheaper loans for some Hyundai and Kia EVs this morning, to incentivise the vehicles and help drive down emissions (pun intended).<\/p>\n

The Clean Energy Finance Corporation (CEFC) has committed $60m to partner with the two vehicle brands that would give eligible customers between 0.5% and 1% on their finance rate. The government says it could save an EV user with a $70,000 loan, $1900 in interest costs over five years.<\/p>\n

The climate change and energy minister, Chris Bowen,<\/strong> said eligible cars include fully electric vehicles under the luxury car tax threshold:<\/p>\n

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<\/svg>Transport is one of our biggest sources of emissions, and electric vehicles are a key way we cut pollution while saving people money.<\/p>\n<\/blockquote>\n

Meanwhile, the government is reviewing its current EV tax incentive policy, which exempts EV drivers from paying fringe benefits tax, through a novated lease under certain conditions. The fringe benefits tax break can save EV users tens of thousands of dollars over several years but costs the budget billions \u2013 leading the productivity commission to recommend scrapping it.<\/p>\n