Luxury Car Tax Threshold update - note!

[Smoke Pursuit]

Effective from July 1, 2010 the Luxury Car Tax thresholds are as follows :

‘Standard’ motor cars $57,466

‘Fuel efficient’ motor cars $75,375

The GST input Tax Credit (ITC) on motor cars is limited to $5,224 (being 1/11th of the car depreciation limit, which is the lower LCT threshold of $57,466.

Fuel efficient cars are defined as :-

A fuel efficient car has a fuel consumption that does not exceed 7 litres per 100 km.

This is as a combined rating under the vehicle standards in force under section 7 of the Motor Vehicle Standards Act 1989.

The fuel efficient car limit for LCT is $75,000.00 in the 2009/10 financial year and $75,375.00 in the 2010/11 financial year.

If only they would also include the Aussie built cars under the FE amount.

[Brazen]

Euro diesels are going to become a lot more popular.

[flappist]

Originally Posted by bfiipursuit

Effective from July 1, 2010 the Luxury Car Tax thresholds are as follows :

‘Standard’ motor cars $57,466

‘Fuel efficient’ motor cars $75,375

The GST input Tax Credit (ITC) on motor cars is limited to $5,224 (being 1/11th of the car depreciation limit, which is the lower LCT threshold of $57,466.

Fuel efficient cars are defined as :-

A fuel efficient car has a fuel consumption that does not exceed 7 litres per 100 km.

This is as a combined rating under the vehicle standards in force under section 7 of the Motor Vehicle Standards Act 1989.

The fuel efficient car limit for LCT is $75,000.00 in the 2009/10 financial year and $75,375.00 in the 2010/11 financial year.

If only they would also include the Aussie built cars under the FE amount.

Hmm I wonder if an election might be close and the green vote needs to be courted....