77:(GST), but it is not payable on the full price of the vehicle. LCT is only payable at the rate of 33% (up from 25% as of 1 July 2008, though no senate approval for this increase was obtained) of the value of the GST-inclusive value which exceeds the LCT threshold. As of 2024, the LCT threshold is $ 80,567. An increased threshold of $ 91,387 applies to fuel efficient cars that have a combined fuel consumption rating not exceeding seven litres per 100 kilometres (based on a combined test cycle rating under
1030:
1042:
296:
There has been calls from the industry peak bodies such as the
Federal Chamber of Automotive Industries (FCAI), the Australian Automotive Association (AAA) and the Australian Automotive Dealer Association (AADA) to abolish the tax. They claim the tax was designed to protect local automobile
88:
at labels 1E and 1F. An organisation is not required to complete the LCT section of their BAS when they have elected the GST Instalment Option as LCT is included in this amount. Organisations which report and pay GST annually are only required to report LCT on their annual GST return (GSTR)
106:
The LCT becomes due and payable when you on-sell the luxury car or stop using it for a quotable purpose. This might happen if you hold a car as trading stock and start using it for private purposes or if it becomes a capital asset of your business.
400:
A fuel-efficient car is a motor vehicle that has a combined fuel consumption of 7 litres per 100km or less. In the case of the luxury car tax, these cars are subject to higher tax thresholds that are set due to their lower environmental impact.
345:
1005:
353:
1010:
407:
285:
1000:
1015:
812:
990:
822:
802:
504:
619:
807:
472:
297:
manufacturing industry which no longer exist as the big three manufacturers Toyota, Ford and Holden ceased operations in the 2010s.
995:
980:
975:
1046:
967:
952:
720:
497:
74:
115:
When you import or sell a car with a value above these thresholds, you must pay LCT except in specific circumstances.
532:
640:
675:
375:
1068:
875:
776:
17:
1034:
870:
766:
547:
537:
490:
604:
911:
880:
855:
670:
594:
85:
957:
926:
906:
860:
735:
690:
665:
655:
609:
589:
552:
462:
403:
379:
349:
333:
67:
43:
92:
Businesses are only permitted to quote their ABN when the vehicle is used for the following purposes:
985:
931:
832:
740:
477:
885:
865:
817:
724:
635:
467:
330:
890:
715:
281:
Luxury Car Tax statistics can be found in the
Taxation Office's publication Taxation Statistics.
78:
47:
434:
745:
685:
650:
557:
707:
599:
39:
921:
850:
827:
761:
680:
645:
513:
8:
936:
916:
842:
660:
614:
542:
316:
771:
573:
300:
There has been a suggestion to increase the LCT threshold or give farmers exemption.
66:
LCT is payable by businesses which sell or import luxury cars, unless the business's
55:
527:
697:
102:
Holding the vehicle as trading stock (not including for rent or leasing purposes)
785:
780:
1062:
435:"Luxury Car Tax: Industry, MPs renew calls to scrap "bad tax" | CarAdvice"
70:(ABN) number is quoted in the correct format to the supplier or Customs.
482:
96:
Exporting the vehicle in circumstances where the export is GST-free
99:
Conducting research or development for the vehicle's manufacturer
346:"Luxury car tax – how to complete your activity statement"
1060:
317:A New Tax System (Luxury Car Tax) Act 1999 (Cth)
498:
505:
491:
52:A New Tax System (Luxury Car Tax) Act 1999
27:Tax within the Australian taxation system
512:
404:"How to Calculate Luxury Car Tax (LCT)"
14:
1061:
478:Detailed Guide to Luxury Car Tax (LCT)
486:
463:How to Calculate Luxury Car Tax (LCT)
84:LCT is reported on an organisation's
1041:
429:
427:
425:
376:"Luxury car tax rate and thresholds"
331:Luxury car tax rates and thresholds
24:
468:Luxury car tax rate and thresholds
73:LCT is charged in addition to the
25:
1080:
456:
422:
276:
110:
58:., and commenced on 1 July 2000.
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1029:
1028:
473:Luxury Car Tax (LCT) Calculator
777:Australian Securities Exchange
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368:
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324:
310:
61:
13:
1:
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1016:Australia–United Kingdom FTA
620:Australian Capital Territory
408:Gradient Information Systems
291:
286:GST and other indirect taxes
7:
991:Australia–United States FTA
881:National Electricity Market
86:Business Activity Statement
10:
1085:
736:Minerals Resource Rent Tax
380:Australian Taxation Office
350:Australian Taxation Office
334:Australian Taxation Office
68:Australian Business Number
50:. It was introduced under
44:Australian Taxation Office
40:Australian taxation system
1024:
1006:Trans-Pacific Partnership
986:Australia–New Zealand FTA
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932:Social class in Australia
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841:
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754:
741:Passenger Movement Charge
706:
628:
582:
566:
520:
866:Energy efficiency rating
721:Goods & Services Tax
1011:Indonesia–Australia FTA
124:Fuel efficient vehicles
48:Government of Australia
558:Snowy Mountains Scheme
533:Banking crisis of 1893
352:. 2007. Archived from
320:www.legislation.gov.au
75:Goods and Services Tax
38:) is a tax within the
1069:Taxation in Australia
922:Poverty in Australia
514:Economy of Australia
356:on 27 September 2007
1001:Japan–Australia FTA
996:China–Australia FTA
981:Australia–Korea FTA
976:Australia–Chile FTA
937:Wealth in Australia
917:Income in Australia
900:Economic conditions
796:Regulatory agencies
755:Banking and Finance
543:Four pillars policy
42:, collected by the
823:Corporations power
772:Official cash rate
676:Telecommunications
1056:
1055:
876:Green electricity
605:Western Australia
574:Australian dollar
274:
273:
56:Howard government
46:on behalf of the
16:(Redirected from
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968:Trade agreements
871:Geothermal power
767:Financial system
548:Great Depression
538:Economic history
528:Australian pound
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927:Property bubble
907:Government debt
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781:S&P/ASX 200
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610:South Australia
590:New South Wales
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127:Other vehicles
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912:Home ownership
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786:All Ordinaries
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731:Luxury Car Tax
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671:Superannuation
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457:External links
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277:LCT statistics
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121:Financial year
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111:LCT thresholds
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100:
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63:
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32:Luxury Car Tax
26:
18:Luxury car tax
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861:Energy policy
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818:Corporate law
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659:
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656:Manufacturing
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633:
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553:Privatisation
551:
549:
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541:
539:
536:
534:
531:
529:
526:
525:
523:
519:
515:
508:
503:
501:
496:
494:
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439:CarAdvice.com
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41:
37:
33:
19:
1045:
1033:
833:Reserve Bank
730:
442:. Retrieved
438:
412:. Retrieved
396:
384:. Retrieved
370:
358:. Retrieved
354:the original
340:
326:
319:
312:
299:
295:
280:
114:
105:
91:
83:
72:
65:
51:
35:
31:
29:
886:Solar power
666:Real estate
636:Agriculture
444:23 February
62:Description
891:Wind power
746:Tax return
716:Fuel taxes
641:Automotive
629:Industries
600:Queensland
304:References
686:Transport
651:Insurance
292:Criticism
270:$ 59,133
259:$ 60,316
248:$ 61,884
237:$ 63,184
226:$ 64,132
215:$ 65,094
204:$ 66,331
193:$ 67,525
182:$ 68,740
171:$ 69,152
160:$ 71,849
149:$ 76,950
138:$ 80,567
1063:Category
1035:Category
708:Taxation
615:Tasmania
595:Victoria
567:Currency
267:$ 75,375
256:$ 75,375
245:$ 75,375
234:$ 75,375
223:$ 75,526
212:$ 75,526
201:$ 75,526
190:$ 75,526
179:$ 77,565
168:$ 79,659
157:$ 84,916
146:$ 89,332
135:$ 91,387
1047:Commons
851:Biofuel
762:Banking
725:dispute
681:Tourism
646:Fishing
521:History
414:28 June
386:28 June
264:2012–13
253:2013–14
242:2014–15
231:2015–16
220:2016–17
209:2017–18
198:2018–19
187:2019–20
176:2020–21
165:2021–22
154:2022–23
143:2023–24
132:2024–25
54:by the
946:Unions
843:Energy
661:Mining
410:. 2024
382:. 2024
360:7 July
691:Ports
81:81).
953:ACTU
813:ASIC
808:APRA
803:ACCC
698:Wine
446:2020
416:2024
388:2024
362:2007
30:The
828:FWC
79:ADR
36:LCT
1065::
437:.
424:^
406:.
378:.
348:.
788:)
779:(
727:)
723:(
506:e
499:t
492:v
448:.
418:.
390:.
364:.
34:(
20:)
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