The revisions could be seen as a move to catalyse the next wave of electric vehicles in our race to an all-clean energy future.
Under the extension, existing surcharge amounts will remain for another three years. However, only EVs will qualify for a revised A1 band come 2024.
EVs are the future, but what would it cost you to be an early adopter of the future? Here's the costs that you have to consider before making the move.
Are you currently shopping for a new car? VES rates are about to change! Keep track of what rebates and surcharges are going to be apply here!
Starting from 2021, the Vehicular Emissions Scheme will be enhanced with increased rebates and higher surcharges to promote the adoption of cleaner vehicles.
When the new Vehicular Emissions Scheme kicks in January next year, far fewer cars will qualify for rebates as a result of stricter standards.
Number of cars that qualify for the CEVS scheme - to promote green cars - has expanded to three times than the initial projected number.
Starting from Jan 1, buyers will enjoy tax rebates of up to $20,000 when they opt for cars with low carbon emission.
A new Carbon Emissions-based Vehicle Scheme (CEVS) will replace the Green Vehicle Rebate Scheme (GVR) when the GVR scheme expires at the end of 2012.