Audi, BMW, Porsche, Toyota To Pass On LCT-Related Savings
With the Federal Government's increase to the luxury car tax (LCT) threshold now in effect, serveral manufacturers are already starting to pass on the savings to their customers. Starting from 1 July, the LCT threshold has been raised by $1300
With the Federal Government's increase to the luxury car tax (LCT) threshold now in effect, serveral manufacturers are already starting to pass on the savings to their customers.
Starting from 1 July, the LCT threshold has been raised by $1300 to $63,184. The current LCT rate is 33 percent on the value of a car above the LCT threshold.
There is a catch, however. The threshold for ‘fuel-efficient’ cars (those consuming under 7.0 l/100km on the combined cycle), remains unchanged at $75,375. For those cars, the amount of LCT payable remains the same.
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