David Van (Victoria, Independent) Share this | Hansard source

I move:

That this bill be now read a second time.

I seek leave to table an explanatory memorandum relating to the bill.

Leave granted.

I table an explanatory memorandum and I seek leave to have the second reading speech incorporated in Hansard.

The speech read as follows—

As climate change and environmental degradation loom over the future of our planet, Australia stands at a critical crossroads.

We face a clear choice: embrace sustainable transportation and chart a course towards a cleaner, greener future, or continue down the path of fossil fuel dependence, leaving behind a trail of pollution and missed opportunities.

The Treasury Laws Amendment (Extending the FBT Exemption for Plug-In Hybrid Electric Vehicles) Bill 2024 seeks to extend the existing Fringe Benefits Tax (FBT) exemption for plug-in hybrid electric vehicles (PHEVs) until 1 April 2030.

One of the fear mongering myths whipped up against electric vehicles (EVs) is range anxiety—the concern that EVs lack sufficient range and power for weekend getaways or long trips.

PHEVs bust this myth with the convenient blend of efficient, clean electric driving for everyday activities like school runs, shopping trips and commutes while still providing the reassurance of petrol backup when the electric charge runs low. They are the perfect hybrid solution, offering an accessible gateway for consumers hesitant to fully commit to battery electric vehicles.

Our greener coloured colleagues will argue that all fossil fuel vehicles should be off the road immediately.

And while I agree with their sentiment, the utopia of completely clean transport in Australia is not yet a reality we are ready for.

The narrow range of Electric Vehicles, the price point disparity and insufficient infrastructure are the reality Australia needs to resolve before we can adopt the hardline stance of the Greens.

There are more and more solutions to these challenges and I congratulate the projects and innovators that bring the future of EVs closer. But the ability to sustain a clean fleet is not complete or anywhere near capacity to handle 100% Electric Vehicle take up at this time.

A realistic stepping stone is to extend the financial incentives which will in turn encourage more drivers to choose an EV for their family car. Effectively, this Bill opens the gate to increased use and purchasing of EVs, speeding up the process of cleaner transport in Australia.

Beyond the undeniable environmental benefits, this Bill is a testament to the economic potential that sustainable transportation holds.

It would be fair to say Australia has lagged behind in contemporary emissions control when it comes to our transport fleet.

Commendably, the government's New Vehicle Emissions Standards go a long way to improving this situation. But the Australian public want and deserve more and better options to choose cleaner transport.

By extending the FBT exemption for PHEVs until 2030, we are offering Australians more choice.

The FBT exemption will promote the continued adoption of lower-emission vehicles in Australia's transport sector and provide businesses and individuals with a compelling incentive to choose sustainable transportation.

This Bill is more than just another piece of legislation put before the Senate. This is a statement of intent, a call to action for Australia to take a stand for its environment, economy and people.

By supporting the extension of the Fringe Benefits Tax exemption for PHEVs until 2030, policymakers can pave the way for a cleaner, greener future that benefits us all.

I encourage you to step out from behind the wall of party thinking, don't allow fear and misinformation to cloud your judgement.

This Bill offers a gateway to smarter, cleaner and more sustainable transportation in Australia. It's time for us to do what's right for the nation and the planet.

In conclusion, the Treasury Laws Amendment (Extending the FBT Exemption for Plug-In Hybrid Electric Vehicles) Bill 2024 provides a strategic opportunity to accelerate the adoption of lower-emission vehicles in Australia.

I urge my colleagues to support this Bill and join the movement towards a brighter, cleaner and more sustainable future for Australia.

I seek leave to continue my remarks later.

Leave granted; debate adjourned.