How Victorian motorists can claim a 20 per cent car registration cash back
Millions of Victorian motorists could benefit from significant discounts when signing up to a new government scheme aimed at tackling rising cost pressures.
From June 1, Victorian motorists will be able to apply for a 20 per cent discount on two light passenger vehicles registered in their name.
With Victorian registration prices set to rise above $930 this year, the one-off discount could give drivers back up to $186 on vehicle registrations, or save $372 for two vehicles.
The cash refund scheme is in line with the government’s recent decision to provide free public transport until 31 May and halve fare prices from 1 June until the end of the year.
The registration discount initiative is expected to result in approximately $750 million in lost revenue, on top of the $432 million cost of reducing public transit fares.
Prime Minister Jacinta Allan said the plan was a direct response to increases in oil prices following conflict in the Middle East.
The Victorian Premier has assured that the benefits of the new cost-saving measure will outweigh any cost burden.
“I am committed to using the government to help oppressed Victorians,” he said.
“We can afford it because right now it’s a one-off living expense allowance, whereas we provide a surplus (budget).
“Like cheaper PT (public transport), this won’t solve everything, but it’s something I can take immediate action to make a difference.”
Up to four million registered Victorian cars, utilities and motorcycles will be eligible for cash assistance; However, fleet vehicles and heavy commercial trucks weighing over 4.5 tons will be excluded from the program.
Eligible drivers will need to apply through the Service Victoria website, where they can fill out an online form and receive the money back into their bank account within 90 days.
Drivers will have just two months to accept the offer, as applications close on July 31.
Energy Minister Chris Bowen announced earlier this month that the Federal government’s policy allowing higher levels of sulfur in oil has been extended by four months.
Global oil prices soared when the Iran-US conflict forced the Strait of Hormuz to close; Before the war started, approximately one fifth of the world’s oil supply was transported through the Bosphorus.
Further concerns about fuel supply and pricing have been raised this month after one of Australia’s two oil refineries burned; but operators Viva Energy claimed in mid-April that the fire had not had a “huge impact” on output.
