TESLA MODEL Y REAR-WHEEL DRIVE LAUNCH SERIES

The current Model Y lineup sold in Australia has four grades. Premium RWD is the entry point at $58,900, with a single rear motor rated at 255kW. Premium Long Range AWD adds a second motor for $68,900, taking output to 378kW. L Premium AWD — badged Model Y L — is the long-wheelbase, six-seat version at $74,900, sharing the Premium Long Range AWD's 378kW drivetrain across a stretched body. Performance sits at the top at $89,400, with 461kW and the five-seat body of the standard car.

All four are electric SUVs; the practical differences are seating (five seats on three of the four grades, six on the Model Y L), drivetrain (single-motor RWD on the base grade, dual-motor AWD on the rest), and where each grade lands relative to the FBT thresholds that apply to novated leases.

*Drive-away estimate; on-road costs vary by state and by buyer. RRP is before on-road costs.

Pros

• Four grades spanning $58,900 to $89,400 RRP, so there is a Model Y at more than one price point and use case.
• The entry Premium RWD grade sits comfortably under the $75,000 FBT threshold that applies from April 2027, with the widest margin of any grade.
• Dual-motor AWD is available from the second grade up, without stepping into Performance pricing.
• The six-seat L Premium AWD grade is one of the few three-row-equivalent EVs under $75,000 in Australia.

Cons

• Only the base Premium RWD grade is single-motor RWD; every other grade is AWD, which carries a real price step.
• Performance's $95,377 drive-away estimate sits above the $91,387 luxury car tax threshold for fuel-efficient vehicles, so it does not qualify for the FBT exemption on a novated lease the way the other three grades can.
• Six seats on the L Premium AWD is a 2-2-2 layout, not seven — check the seating configuration before assuming it suits a larger family.

Battery electric vehicles under the luxury car tax threshold for fuel-efficient vehicles ($91,387, rising to $91,661 from 1 July 2026) are exempt from fringe benefits tax when packaged through a novated lease. That exemption is being phased out in two steps.

• Until 31 March 2027 — full exemption, unchanged, for any Model Y grade under the luxury car tax threshold.
• From 1 April 2027 — full exemption continues only for electric vehicles under $75,000. Above that, up to the luxury car tax threshold, a 25% FBT discount applies instead. This is the line the L Premium AWD sits right under, at $74,900 list.
• From 1 April 2029 — the full exemption ends. A 25% discount applies to all eligible vehicles.

Leases already in place are grandfathered: a lease entered into before a phase start date keeps its treatment for the term.

Where each grade sits: Premium RWD and Premium Long Range AWD are both well clear of every threshold. L Premium AWD lists at $74,900 — $100 under the $75,000 line that matters from April 2027, though options and delivery charges count toward the value tested, so a specific build can cross it. Performance, at $89,400 RRP, is close to the $91,387 luxury car tax threshold itself, and its drive-away estimate exceeds it — confirm eligibility before assuming the exemption applies.

Tesla has been delivering cars in Australia since 2014, longer than any other manufacturer selling electric vehicles at volume here. The Model Y is its highest-volume model locally, and the spread across four grades — from a single-motor entry car to a six-seat long-wheelbase version and a high-output Performance grade — reflects how far the platform has been stretched to cover different buyers without a full model change.

General information only

Pricing and tax thresholds on this page are general information, not tax or financial advice, and were correct at the time of publication. FBT and luxury car tax thresholds change, and the treatment of any particular lease depends on your circumstances and on the vehicle as configured. Confirm the numbers for your own situation before committing.