From 1 July 2008, luxury car tax of 33% applies to certain vehicles over the luxury car tax threshold ($57,180 for the 2008-09 year). Amendments to the luxury car tax legislation that increased the rate have also made a number of concessions available. These include:
In certain circumstances primary producers and tourism operators can claim refunds of the additional LCT on certain luxury cars (up to a maximum of $3,000 per car).
If a contract to purchase or import a luxury car was made before 7.30pm Australian Eastern Standard Time (AEST) on 13 May 2008, the LCT payable will remain at 25% regardless of when the vehicle is delivered.
Luxury car tax does not apply to fuel efficient cars under the fuel efficient car limit ($75,000 for the 2008-09 year) from 3 October 2008. From 1 July 2008 to 2 October 2008, these vehicles were subject to 33% LCT. LCT at the rate of 33% will still apply to vehicles which are above this threshold, also from 1 July 2008.
The following administrative advice applies from 1 July 2008 if you are a motor vehicle supplier that:
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