Business, Transport, Budget 2020, Paschal Donohoe, Department Of Transport, Department To, Sustainable Energy Authority Of Ireland

Business, Transport

End of the road for electric car grant for company cars

Government changes tax incentives for electric cars and hybrids

09/10/2019 16:02:00

The Government has ended the €3,800 grant for businesses purchasing electric cars or plug-in hybrids, in a decision seemingly at odds with efforts to encourage the move to electric transport.

Government changes tax incentives for electric cars and hybrids

The grant, administered by theSustainable Energy Authority Of Ireland(SEAI), was on top of the €5,000 tax rebate on Vehicle Registration Tax (VRT) on full-electric vehicles.A zero per cent rate of Benefit-in-Kind (BIK) tax is applied to employees opting for full-electric vehicles. This rate has been extended to 2022.

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The Department said the decision to discontinue the €3,800 for companies buying electric cars and plug-in hybrids was because “the generous benefit-in-kind tax relief that is available for these vehicles is considered adequate incentive to drive growth in this sector”.

The changes apply to all applications received from Wednesday October 23rd. This gives consumers two weeks to apply for purchase grants under the existing rules – provided that the vehicles are registered and the grant claimed before the end of 2019.The €3,800 grant will continue for companies purchasing electric vans.

Meanwhile, there has also been changes to the grant systems for hybrids. From October 23rd, the €5,000 SEAI grant will only apply to plug-in hybrid vehicles with CO2 emissions below 50g/km and that can travel on fully-electric mode for a minimum of 50km.

The changes were announced as part of a wider range of Budget measures relating to electric vehicles. The Minister for Finance,Paschal Donohoe, announced additional funding of €8 million for electric vehicle purchase grants, bringing the total allocated in 2020 to €14 million.

A further €3 million has been allocated for new electric vehicle charging infrastructure, bringing the total budget for the Department to €6 million, in addition to €10 million support to develop the public charging network from the Climate Action Fund.

There was also €1.5 million allocated to the Department of Transport to roll-out fast charging points to taxi ranks at transport hubs. Read more: The Irish Times »

Lettiemccarthy So disappointing, how does this square with the ClimateAction plan RichardbrutonTD ? So it is true, the new carbon taxes are a money grab for central exchequer funds Wait until Brexit! Ireland won't know what hit it! 🤭 Govt not serious about reducing carbon footprint no incentive to go electric it’s just an excuse for govt to take more from us ! bringontheelection

deshocks Better to put that money into electric buses and trains than SIMI dealer pockets. hegarty_ruth The government are too dependant on fossil fuels as a major tax source to be turning the consumers onto electric cars and renewable energy sources. They only need to appear to be doing something while in practice doing nothing . Its a win win for the political elite

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