Primary producers registered for GST can claim a refund of luxury car tax (LCT) they have paid on one eligible vehicle per financial year. The refund can be up to a maximum of $10,000. It must be claimed within 4 years of becoming entitled to it.
An eligible vehicle is a four-wheel drive or all-wheel drive, which is either:
- a 'passenger car' with a ground clearance of at least 175mm
- an 'off-road passenger' vehicle.
For LCT purposes, a primary producer is an individual, partnership, trust or company carrying on a primary production business, including:
For more information on primary production, refer to TR 97/11 Income tax: am I carrying on a business of primary production?
For more information, see: