Both Audi and Toyota have announced this week that all savings from the increased Luxury Car Tax (LCT) threshold, effective from yesterday, will be passed onto buyers.
For the financial year 2012–13, the Australian Federal Government has increased the LCT threshold from $57,466 to $59,133.
This adjustment translates to a potential $500 saving for any new car purchase priced beneath the new threshold.
“The increase to the Luxury Car Tax threshold is good news for luxury car buyers in Australia, and therefore Audi is passing on the savings directly to our customers,” Audi Australia MD Uwe Hagen said.
Toyota Australia sales and marketing boss Matthew Callachor confirmed the same for Toyota buyers, announcing the carmaker will pass along the full $500 reduction to the price of 20 Toyota vehicles.
A separate LCT threshold of $75,375 is in place for what the government defines as ‘fuel efficient’ cars (those that consume 7.0l/100km of fuel or less), which remains unchanged.