New car stamp duty decrease (Vic)

[Charliewool]

Just heard on the news..
As from next Tues (May 1st) all new cars up to $57,000 will now attract stamp duty of only 2.5%
Previously up to 35k was 4% and 35k to 57k was 5%... so quite a substantial saving on a 55 grand car!
The old rates were put in place in 1987 when a vehicle costing over 35k was considered luxury.

[kooky]

Only new cars Charlie?

[Charliewool]

Originally Posted by kooky

Only new cars Charlie?

Yes only NEW!.. 2nd hand stays at 4% flat, because of GST not being payable on 2nd hand vehicles

[ED Classic]

Well they had to if you looked at the rates. Pity they wont do the same on houses as Vic has way higher stamp duty than anywhere else. Good start though.

[Casper]

Originally Posted by ED Classic

Pity they wont do the same on houses as Vic has way higher stamp duty than anywhere else. Good start though.

Not wrong. I just handed over more than $10K so some gimp in a bad suit and tie could spend 3 seconds smacking a rubber stamp onto my property transfer and then filing it away in god knows where. Thas an expensive bloody stamp!

[Brute6]

Beaudy!! About time these sorts of things actually came down instead of the usual thing of increasing all the taxes and charges....

[jimt3te50]

you haven't seen stamp duty til you've lived in WA......

bloody rort

[Kenster]

the stam duty only applying to family cars so from sedan to vans so that mean including the new Fords, Holden, Aurion, and Accords

[Charliewool]

Originally Posted by Kenster

the stam duty only applying to family cars so from sedan to vans so that mean including the new Fords, Holden, Aurion, and Accords

Stamp duty has always only been 2.5% on utes and commercials though

[Tles]

http://www.news.com.au/heraldsun/sto...5-2862,00.html

Car prices to fall
Ashley Gardiner
April 28, 2007 12:00am


A $40 million a year fuel subsidy paid by the State Government will be axed to pay for a tax cut on new car sales.

The price of new cars worth between $35,000 and $57,009 will fall on May 1 after a pre-Budget announcement yesterday by Treasurer John Brumby.
New cars in that price range will fall by between $525 and $1425.

A $13,690 fuel-efficient Holden Barina, which uses 6.9 litres each 100km, will not change in price.

But a $53,990 Hummer H3 automatic, which soaks up 14.5 litres every 100km, will be $1350 cheaper.

Ford Falcon and Holden Commodore prices will fall by about $600.

A subsidy of 0.43 cents a litre on the price of petrol, and a 0.75c subsidy on diesel, will be removed from July 1 to pay for the car tax cuts.

The State Government will also give a $50 discount on registration fees to owners of hybrid-powered cars such as the Toyota Prius, which will fall by $555 thanks to the tax cut.

Victorian Automobile Chamber of Commerce executive director David Purchase said the cuts would mean an end to buyers avoiding safety extras that pushed a car's price over the tax threshold

[Tles]

But a $53,990 Hummer H3 automatic, which soaks up 14.5 litres every 100km, will be $1350 cheaper.

Ford Falcon and Holden Commodore prices will fall by about $600.

A subsidy of 0.43 cents a litre on the price of petrol, and a 0.75c subsidy on diesel, will be removed from July 1 to pay for the car tax cuts.

The State Government will also give a $50 discount on registration fees to owners of hybrid-powered cars such as the Toyota Prius, which will fall by $555 thanks to the tax cut.

Victorian Automobile Chamber of Commerce executive director David Purchase said the cuts would mean an end to buyers avoiding safety extras that pushed a car's price over the tax threshold

Hooray, finally some reward for spending the quids to buy a safe new family car. Good reason to spec side airbags, and more importantly traction and stability control, ABS and so on....At least that's one thing I can stop banging on about

[Redrum]

Originally Posted by charliewool

Stamp duty has always only been 2.5% on utes and commercials though

Includes Super Pursuit, even if over 57k?

[phillyc]

Still a rort.

Stamp Duty was to be axed (agreed by the states) when the GST came in. Six years later and billions over and above every year what they were promised going to the state coffers and they still haven't got rid of stamp duties.

[Charliewool]

Originally Posted by Redrum

Includes Super Pursuit, even if over 57k?

Yep!... Stamps at 2.5% classed as commercial.. Not sure about Luxury car tax?

[Gabbs]

Originally Posted by jimt3te50

you haven't seen stamp duty til you've lived in WA......

bloody rort

This man knows what he is talking about.
I paid 2 grand in stamp duty on a na xr6 back in 04 and it hasn't come down at all yet.