The Motor Report Auto News Blog

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