Does Ontario Have an EV Tax Rebate?
Buying an electric vehicle like the BMW iX or the BMW i4 does not just mean more eco-friendly and sustainable driving in Milton and Burlington. It also means financial savings, thanks to fewer EV maintenance needs, no more trips to the gas pump, and tax rebates and incentives. But does Ontario have an EV tax rebate? Are there incentive programs at the federal level? Find out all about Ontario EV tax rebates and the federal government’s iZEV Program in this guide from Pfaff BMW.
Does Ontario Have an EV Tax Rebate at the Provincial Level?
So, does Ontario have an EV tax rebate offered by the provincial government? As of this writing, there are no provincial-level Ontario EV tax rebates available. While most other Canadian provinces provide financial incentives for buying or leasing an EV, Ontario is an exception. With that said, you may still qualify for the iZEV program administered by the federal government.
What is the iZEV Program?
The Incentives for the Zero-Emission Vehicles program is designed to make the cost of buying or leasing an electric vehicle more budget-friendly. All-electric vehicles qualify for up to $5,000 off; plug-in hybrid electric vehicles qualify for up to $2,500 off. But they must meet these eligibility standards:
- A battery electric, hydrogen fuel cell, or plug-in hybrid electric vehicle
- Bought or leased for at least 12 months, on or after its eligibility date
- An MSRP of less than $55,000 for passenger cars or less than $65,000 for higher-end trims; an MSRP of less than $60,000 for a station wagon, pickup, SUV, minivan, van, or special purpose vehicle or less than $70,000 for higher-end trims
You claim your discount at the point of sale, which equals instant savings. Keep in mind that individual buyers can utilize the iZEV program just once each calendar year. Explore the list of eligible vehicles to see if yours qualifies.
Test-Drive Your Next Electric Vehicle Near Oakville
While there are no specific Ontario EV tax rebates, you can take advantage of federal-level opportunities. If you are ready to start shopping for your next EV, browse our current inventory, then stop in for a test drive around Mississauga. You can also apply for financing and value your trade-in vehicle now to simplify the buying process. Enjoy an ultra-luxe—and ultra-efficient—driving experience at the wheel of a new EV from Pfaff BMW.
