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We have received a few questions on Luxury Car Tax.
Here is some basic info on this topic from the ATO:
What is LCT?
is a tax of 33% imposed on the GST-inclusive value of luxury cars over
the relevant LCT threshold. You generally pay LCT when you sell or
import a luxury car. You pay LCT as well as any GST payable.
Special refunds may be available for some primary producers and tourism operators for luxury cars they buy
The LCT thresholds for the 2013–14 financial year are:
These thresholds are different to the car limit which is used to work out depreciation deductions for income tax.
you buy a car with a GST-inclusive value above these LCT thresholds,
you must pay LCT. In general, the value of a car includes the value of
any parts, accessories or attachments you supplied, or imported at the
same time as the car.