If a new lease agreement was required, this would constitute a break in the existing lease agreement and a new financially binding commitment. If the new lease agreement is entered into on or after 1 April 2025 for a PHEV, the exemption will no longer be available from the date the existing lease agreement ceases.

However, if an administrative change takes place and a new lease agreement is not required, the PHEV exemption held would still apply.

Please note: From 1 April 2025, a plug-in hybrid electric vehicle will not be considered a zero or low emissions vehicle under FBT law. However, your employer can continue to apply the exemption if both the following requirements are met: 1) Use of the plug-in hybrid electric vehicle was exempt before 1 April 2025. 2) You have a financially binding commitment to continue using the vehicle for private use on and after 1 April 2025. For this purpose, any optional extension of the agreement is not considered binding. To qualify for the EV discount, plug-in hybrid electric vehicles must be delivered by midnight on 31 March 2025. Due to high demand and stock limitations there may be some vehicles that do not meet the delivery deadline for the EV Discount. Customers are advised to confirm delivery timelines before proceeding with their order.