luxury car tax

TMR News and Features

VACC Considers Luxury Car Tax a Ridiculous Shambles

Jun 25th, 2008 • 3 comments • Link to Article

The VACC has labelled the Rudd Labor Government’s proposed Luxury Car Tax (LCT) a ridiculous shambles and we cannot help but agree.

The Rudd Government has announced that the LCT is to increase from its current 25 percent rate to 33 percent from July 1, irrespective of whether the increase passes Parliament or not. Given that the Senate has referred the Bill to a Committee that is not due to report until at least August 26 this year, this is a curious decision.
» Read Article

Rudd government to increase tax on luxury cars

May 12th, 2008 • 5 comments • Link to Article

With the Rudd administration due to handdown their first budget this Tuesday, wealthy average Australians are preparing to dodge the bullets and one of them is aimed squarely at what the government considers to be ‘luxury cars’. Treasurer Wayne Swan has confirmed that the price of luxury cars will rise and government coffers will be the beneficiary. In fact the luxury tax on cars will increase from the current level of 25% to 33% a change that is expected to affect around 105,000 car purchases per annum. The price of a car costing around $100,000 will increase by approximately $2,500 under the new plan. » Read Article

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