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157 Unexpected Facts About Luxury Car Tax Used Vehicles | Gvm Upgrade To Avoid Luxury Car Tax

  • 2.52 The LCT Bill provides special provisions that may impact on the luxury car tax value. These matters are listed below, and a brief explanation on each is given. - Source: Internet
  • No Is the vehicle you are purchasing a new or used Zero Emissions Vehicle (ZEV), including motorcycle? Note: ZEVs include electric vehicles and hydrogen vehicles, but do not include vehicles that contain internal combustion engines (i.e. Hybrid Electric Vehicles (HEVs) and Plug‐in Hybrid Electric Vehicles (PHEVs)). Is this registration for a light vehicle (not including motorcycles or trailers)? Yes - Source: Internet
  • 3.34 If you account for GST other than on a cash basis you may account for luxury car tax on the supply of a luxury car before you receive any or all of the consideration for the supply. If you have accounted for luxury car tax on a supply and you later write off as a bad debt some or all of the consideration you were due to receive for the supply, you will have accounted for luxury car tax but not have received an amount for that luxury car tax from the recipient of the supply. - Source: Internet
  • 3.1 Luxury car tax on supplies of luxury cars is added to the net amount under Division 17 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act). Adjustments in relation to supplies or importations of luxury cars can also be made to net amounts. These may increase or decrease the net amount. - Source: Internet
  • 3.42 The Dictionary at section 27-1 defines when you have borne luxury car tax. Subsection 17-5(5) sets out the amount of credit you are entitled to. - Source: Internet
  • 4.14 Division 165 of the GST Act, the general anti-avoidance provisions, applies to amounts of luxury car tax payable. This is achieved by incorporating luxury car tax payable on taxable supplies of luxury cars in the net amount under Division 17 of the GST Act. However, luxury car tax on importations of luxury cars is not incorporated into the net amount but is generally paid with customs duty. Section 13-30 expressly states that Division 165 of the GST Act applies to amounts payable upon an importation of a luxury car as if it were payable under the GST Act. - Source: Internet
  • Vehicles - Passenger vehicles, with a date of manufacture after 2018, typically suitable for personal use including coupes, sedans, station wagons, sports cars, passenger vans, and minivans with seating capacity of not more than 10 passengers, SUVs, and passenger pick-up trucks will be subject vehicles for purposes of the new tax. Motorcycles and certain off-road vehicles, such as all-terrain vehicles and snowmobiles, racing cars (i.e., vehicles that are not street legal and are owned solely for on-track or off-road racing), and certain motor homes are not subject vehicles and are not in the scope of Luxury Tax. Similarly, ambulances, hearses, vehicles clearly marked for policing activities or marked and equipped for emergency medical, and fire response will also fall outside the scope of the tax. - Source: Internet
  • 2.23 In order to make the administration of the luxury car tax simpler, you will not be required to separately register for both GST and luxury car tax. If you are registered or required to be registered under the GST Act, then you may be liable to pay luxury car tax if you make a taxable supply or importation of a luxury car. [Paragraph 5-10(1)(d)] - Source: Internet
  • Non-rated vehicles are those that are currently registered or have previously been registered, or those that are not rated under the Green Vehicle Guide. The duty payable for these vehicles is the same as C-rated motor vehicles in Table 2 below. This includes motorcycles (other than ZEVs) that have been previously registered. - Source: Internet
  • 2.72 Section 7-5 provides that you must pay the luxury car tax payable on any taxable importation of a luxury car that you make. Under subsection 7-10(1), you make a taxable importation of a luxury car if you import the luxury car. - Source: Internet
  • 1.8 The luxury car tax will apply at a rate of 25% of the value above the luxury car tax threshold. The luxury car tax threshold is a GST-inclusive value equal to the car depreciation limit (the car depreciation limit for the 1998-99 financial year is $55,134). - Source: Internet
  • 5.13 The Government will also be affected by this measure, in particular, the Australian Taxation Office (ATO) and the Australian Customs Service. However, because the luxury car tax will utilise the same administration framework as the GST, the net impact of this measure is expected to be small. - Source: Internet
  • 2.57 For example, if a person buys a car from a car dealer who arranges for modifications and/or additional supplies to be made or added to that car, then the luxury car tax value of the car must include the price of those modifications and/or additional supplies. This is the case regardless of whether the modifications or additional supplies are made or added to the car, before or after the time of sale. - Source: Internet
  • 3.16 Section 13-30 expressly states that Division 165 of the GST Act, the general anti-avoidance provisions, applies to luxury car tax payable upon an importation of a luxury car as if it were payable under the GST Act. See paragraph 4.14 for a discussion of the general anti-avoidance provisions. - Source: Internet
  • 2.79 Under paragraph 7-10(3)(c) and subsection 7-10(4), a car that is covered by certain items in Schedule 4 to the Customs Tariff will not be subject to luxury car tax at the time it is imported. A summary of these items is provided in the following table: - Source: Internet
  • The amount of duty payable depends on the type of vehicle you have and its dutiable value – the higher of the purchase price and the market value of the vehicle. Please note, this value includes the goods and services tax (GST) and the luxury car tax (LCT), if applicable. For further information on motor vehicle duty please click here. - Source: Internet
  • 5.23 The Treasury and the ATO will monitor this measure, as part of the whole taxation system, on an ongoing basis. In addition, the ATO has consultative arrangements in place to obtain feedback from professional and business associations through other taxpayer forums. - Source: Internet
  • Unlike GST/HST, the LT is generally imposed directly on the registered dealer. It is not intended to be a direct tax on the consumer or end-user. The LT is imposed on the dealer at the time of the retail transaction (when the sale is completed or lease is commenced). The dealer is the “taxpayer”, unlike GST/HST where the registered dealer is a tax collection “agent” on behalf of the Federal Government for taxes payable by the dealer’s customers. - Source: Internet
  • 2.66 In some cases, the amount of luxury car tax payable on a taxable supply of a luxury car is less than the sum of all luxury car tax that was payable in respect of any previous importation or supply of the car. If this is the case, then the amount of luxury car tax payable on that supply is zero. [Subsection 5-15(2)] - Source: Internet
  • 1.19 In a majority of cases, where new cars are sold through a dealership, liability to remit luxury car tax will rest with the registered entity supplying the car. Any luxury car tax would be remitted along with the GST return, avoiding the need for separate registration for luxury car tax purposes. - Source: Internet
  • 3.30 The amount of the decreasing luxury car tax adjustment is equal to the amount of luxury car tax that was paid on the supply or importation. [Subsections 15-30(2) and 15-35(2)] - Source: Internet
  • After this five-year period, the vehicle will be taxed at the standard rate for that type of vehicle. Think carefully about options when you’re buying a new car. The rate of VED is calculated on the list price of a car, so it’ll include any options you add. If you’re buying a £39,000 car and pop a few extras on, you could send the list price over £40,000 and have to pay the £355 supplement. Zero-emission vehicles are currently exempt from the additional rate. - Source: Internet
  • • Generally, your tax periods will be quarterly and end on 31 March, 30 June, 30 September and 31 December. However, you may elect to account on a monthly basis. These will be the calendar months of the year. - Source: Internet
  • 3.37 If you previously wrote off a bad debt for a taxable supply of a luxury car, had a decreasing luxury car tax adjustment, and later recover some or all of the debt, you will not have paid luxury car tax on the amount recovered. You have an increasing luxury car tax adjustment to increase your net amount in the tax period that you receive some or all of the debt. [Subsection 15-45(1)] - Source: Internet
  • 2.47 The amount of luxury car tax payable on a taxable supply of a luxury car is calculated using the formula in subsection 5-15(1). This formula is: - Source: Internet
  • 2.24 Since the rules that apply to registration under the GST Act will also apply for luxury car tax some of the key rules have been provided in this explanatory memorandum, however, you should examine the GST Act to determine if you are required to be registered. For further information on registration, refer to paragraph 4.9 in Chapter 4. - Source: Internet
  • 2.45 The next step is to determine whether there have been any amounts of luxury car tax paid on any previous supply or importation of that car (refer to paragraphs 2.65 to 2.68). If there has, then this reduces the amount of luxury car tax payable determined under the formula. - Source: Internet
  • 2.73 The term import has the same meaning as in the GST Act, so you will need to check this to determine if you import a luxury car. Generally, you make an importation of goods into Australia under Division 13 of the GST Act, if: - Source: Internet
  • 1.4 Chapter 2 provides an explanation of the rules that establish liability for the luxury car tax. It explains when luxury car tax will apply and how it is calculated. It also provides information on the system of quoting in respect of a luxury car, to prevent the tax becoming payable until the car is sold or imported at the retail level. The Chapter deals with the provisions found in Part 2 to the LCT Bill. - Source: Internet
  • 2.15 Cars that are specially fitted out for transporting disabled people seated in wheelchairs are excluded from the definition of luxury car, and are not subject to luxury car tax. [Paragraph 25-1(2)(b)] The definition of disabled person is defined in the Dictionary to mean a disabled veteran (as described in paragraphs 38-505(1)(a) and (b) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) or a person with a disability certificate (as described in paragraph 38-510(1)(a) of the GST Act). - Source: Internet
  • 3.36 The decreasing luxury car tax adjustment is the amount of the luxury car tax payable on the amount written off. Subsection 15-40(2) shows how to calculate the decreasing luxury car tax adjustment. - Source: Internet
  • Step 3. The effect of step 2 is that the luxury car tax applies to $29,878 rather than $32, 866. That is, you do not pay luxury car tax on the difference of $2,988. The amount that is left is then multiplied by the luxury car tax rate of 25%. - Source: Internet
  • 3.18 An increasing luxury car tax adjustment will increase your net amount. A decreasing adjustment will decrease your net amount. - Source: Internet
  • LCT is specifically applied to imported vehicles, which is now almost every vehicle in Australia, over a certain price threshold. The threshold is assessed every year and is currently $68,740. For vehicles that are deemed to be fuel efficient, the threshold is higher at $77,565. - Source: Internet
  • 5.9 To ensure that tax is paid at the retail level a system of quotation will be implemented. For example, luxury car tax is not payable if the registered recipient intends to use the car as trading stock unless it is held for hire or lease. Unregistered persons unable to quote will pay luxury car tax to customs when they import luxury cars. - Source: Internet
  • 4.11 Tax periods are the periods for which you work out your net amount. You are required to lodge a GST return for each tax period that applies to you. Some of the key rules are: - Source: Internet
  • If you agreed to a direct debit, your vehicle tax payment will then be automatically debited from your bank account as a lump sum. Vehicle tax in Germany is always paid one year in advance. If you haven’t taken a direct debit, you need to transfer the money on time every year - you will not receive a reminder. Check with your local tax office (Finanzamt) if you are not sure. - Source: Internet
  • The A New Tax System (Luxury Car Tax) Bill 1999 (LCT Bill) introduces a luxury car tax, from 1 July 2000, on taxable supplies and importations of luxury cars. The luxury car tax will apply at a rate of 25% of the value above the luxury car tax threshold. The new luxury car tax replaces the existing 45% wholesale sales tax (WST) that applies to luxury cars and will ensure that, following the introduction of the goods and services tax (GST), the value of luxury cars will fall in price by about the same amount as a car just below the luxury car tax threshold. - Source: Internet
  • 4.10 The net amount is the sum of GST attributable to the tax period, less the input tax credits that are attributable to that period. The amount of luxury car tax payable by you is included in your net amount. Some of the key rules are: - Source: Internet
  • 2.64 The rate of luxury car tax of 25% is applied to the difference between the luxury car tax value and the luxury car tax threshold under subsection 5-15(1). However, since the luxury car tax value is the price of the car inclusive of GST, and the luxury car tax threshold is a GST inclusive amount, the GST has to be removed before then applying the luxury car tax rate of 25% to the balance. The formula does this by applying the fraction 10/11 to the difference. - Source: Internet
  • 4.2 Division 21 of the A New Tax System (Luxury Car Tax) Bill 1999 (LCT Bill) contains administrative provisions unique to the functioning of the LCT Bill. Most of the provisions that support the collection and administration of luxury car tax, such as penalty provisions and information sharing, will be contained in new Part VI of the Taxation Administration Act 1953. - Source: Internet
  • 5.6 The purpose of a taxation RIS is to examine implementation options arising from the Government’s policy decision. Accordingly, the RIS is based on the policy design of the luxury car tax, outlined below, and focuses on the best ways to implement the policy within the policy objectives set. - Source: Internet
  • The Luxury Tax, originally proposed in the 2021 budget, received Royal Assent on June 23, 2022. The tax will apply to new cars and aircraft with a retail sales price over $100,000 and to vessels over $250,000. It will be calculated at the lesser of 20% of the value above a set threshold ($100,000 for cars and personal aircraft, and $250,000 for vessels) and 10% of the full value of the item subjected to tax. - Source: Internet
  • 4.12 A tax invoice substantiates a creditable acquisition and is generally issued by suppliers. The GST Act requires that tax invoices must: - Source: Internet
  • 2.65 The amount of luxury car tax payable on a taxable supply of a luxury car is reduced by the sum of all luxury car tax that was payable in respect of any previous importation or supply of the car. [Subsection 5-15(2)] The effect of this provision is that once luxury car tax is applied to the value of a car, it will not become payable again, unless the value of the car increases. If the value of the car does increase, and there is a further taxable supply, luxury car tax will only apply to the extent of the increase. - Source: Internet
  • While there are some exceptions such as gifted, modified, and collector vehicles, in most cases, the PST will be calculated on either the purchase price or the Canadian Black Book average wholesale value, whichever is greater. See the Ministry of Finance​ PST​ on Vehicles notice​ for more information.​ - Source: Internet
  • 4.4 This provision expressly overrides an existing Commonwealth law that would otherwise provide an exemption from liability to luxury car tax. [Section 21-5] - Source: Internet
  • 2.3 When you quote in respect of a supply of a luxury car, no luxury car tax is payable for that supply. This system of quoting is designed to prevent luxury car tax becoming payable until the car is sold or imported at the retail level. The provisions that deal with quoting are found in Division 9. - Source: Internet
  • 3.9 However, different rules apply if you account on the cash basis. If you account on the cash basis, GST is attributable to the tax period or periods in which the consideration is received, and only to the extent of the amount of consideration received in each tax period. - Source: Internet
  • 5.10 There will be approximately 800 regular annual payers of luxury car tax. However, the imposition of this measure will be largely offset by the benefits to business from the Government’s abolition of the WST system. In addition, because all of the businesses affected by the luxury car tax will also be required to comply with the GST the net impact of this measure on businesses will be small. - Source: Internet
  • 3.10 Similarly, luxury car tax adjustments are attributable to the same tax period that the GST adjustment on the supply is attributable to under Division 29 of the GST Act. If the luxury car tax adjustment does not also give rise to a GST adjustment, then the luxury car tax adjustment is attributable to the tax period it would have been attributable to if it were a GST adjustment. [Subsection 13-15(2)] - Source: Internet
  • Luxury Car Tax (LCT) is a tax charged when you buy a vehicle that meets a set of “luxury car” criteria. LCT can add a significant amout to the price you pay for your car. Read on to find out what Luxury Car Tax is, which vehicles it applies to, how it is calculated and what it means for you. You may like to try our Luxury Car Tax (LCT) Calculator. - Source: Internet
  • 3.22 The amount of the luxury car tax on the supply calculated taking into account any luxury car tax adjustments is the corrected luxury car tax amount. [Paragraph 15-10(c)] - Source: Internet
  • 3.14 Luxury car tax on importations is generally payable at the same time and place, and in the same manner as customs duty is, or would be, payable on the car. The Regulations can allow further time for payment and accordingly can specify the place and manner of payment. [Section 13-20] - Source: Internet
  • • any GST payable in respect of the importation of the car and of any parts etc. (Note the effect of the formula is to remove the GST component so as not to apply luxury car tax to it). [Subsection 7-15(d)] - Source: Internet
  • 2.32 If you hold a car for hire or lease, then you are not entitled to quote in respect of that car. The supply to you is a taxable supply and will attract luxury car tax. - Source: Internet
  • 2.69 We have just dealt with how luxury car tax will apply to a taxable supply of a luxury car. Luxury car tax will also apply if you import a luxury car into Australia. The provisions that deal with taxable importations of luxury cars are found in Division 7 of the LCT Bill. - Source: Internet
  • For additional information, see the Ministry of Finance PST on Vehicles bulletin, which provides information on determining whether the gift of a vehicle is taxable, exemptions from PST on vehicles and how to apply for a refund. If there are differences between the information displayed here and in the bulletin, the information in the bulletin shall prevail. Please note that neither ICBC nor Autoplan Brokers can refund a tax. - Source: Internet
  • 3.23 The amount of luxury car tax that was attributable to an earlier tax period is the previously attributed luxury car tax amount. It includes any luxury car tax adjustments previously made for that supply of the luxury car. [Section 15-15] - Source: Internet
  • 3.3 This Chapter sets out how you pay the luxury car tax. It also describes how to work out luxury car tax adjustments to the net amount and when you can claim credits of luxury car tax that has been overpaid. - Source: Internet
  • 2.18 The concept of supplying a luxury car is intended to be broad and is based on the similar concept of ‘taxable supply’ found in the GST Act. Accordingly, a supply is any form of supply whatsoever and includes retail and wholesale sales. The following are some examples of a supply of a luxury car: - Source: Internet
  • 3.4 Luxury car tax is in addition to any goods and services tax (GST) that is payable on a car. The luxury car tax payable by you on taxable supplies of luxury cars is attributed to a tax period and added to the net amount under Division 17 of the GST Act for that tax period. [Section 13-5] - Source: Internet
  • Just remember that when you’re buying a nice car from a dealership, it will come with an added cost thanks to the luxury car tax. However, the ‘driveaway price’ often includes LCT anyway. Ultimately, the LCT could mean it’s worth reconsidering if it’s necessary to buy new or if you can buy a used car instead. Only in rare cases will a used car require a LCT, and they are cheaper than new cars in general. - Source: Internet
  • Prices range from £0 for Band A (vehicles that produce up to 100g/km) through to £649 for two single 6-month payments on a car in Band M (vehicles that produce over 255g/km). Note that cars that have a CO2 figure over 225g/km but were registered before 23 March 2006 are included in Band K – which costs between £330 and £363 (for two single 6-month payments) for the year. The full list is available on the Gov.uk website. - Source: Internet
  • 3.32 For example, the above car dealer quoted when purchasing 10 luxury cars to be held as trading stock. No luxury car tax was paid on the supply. The car dealer later used one of the cars as a demonstration vehicle. Since the car is being used for a purpose other than a quotable purpose, the car dealer will have an increasing luxury car tax adjustment. - Source: Internet
  • When VED was introduced back in 1920, it was used to pay for road maintenance. Over the years, roads got busier and the tax didn’t cover it, so now the money raised by VED goes into the consolidated fund of 1926. This is a government fund, which contributes towards local projects and infrastructure. Roads are normally covered by council tax. - Source: Internet
  • 2.67 For example, if a car is sold (assume a taxable supply of a luxury car) for $100,000 in February 2001, then luxury car tax is payable. If the same car is again sold (assume a taxable supply of a luxury car) in February 2002 for $80,000, then no luxury car tax will apply. The reason for this is because the luxury car tax payable on the second supply is less than the luxury car tax payable on the first. - Source: Internet
  • “And the vehicle which attracts the most LCT is a Toyota Landcruiser – a popular vehicle for families and landholders. Hardly a luxury vehicle.” - Source: Internet
  • Cars with 0g/km of CO2 emissions have to pay nothing in the first year. At the other end of the spectrum, vehicles emitting more than 255g/km have to pay up to £2,365 in the first year. The first year’s road tax/VED is usually covered in the car’s ‘on-the-road’ price. This means it’s absorbed into the overall cost of the car, so you don’t have to shell out up to £2,365 on top of everything else. - Source: Internet
  • 2.86 If you make a periodic quote on or before the first day of the period to which the quote relates, you are to be treated as having quoted your ABN for all supplies from the supplier during that period. However, this periodic quote does not relate to supplies for which you are not entitled to quote. If you are not entitled to quote for a particular supply (for example, you intend to use a luxury car as a demonstration vehicle, rather than for trading stock) you must notify the supplier of that fact at or before the time of supply. [Subsections 9-10(2) and (3)] - Source: Internet
  • Luxury car tax is payable on imported luxury cars unless the car is covered by a specified Customs duty concession Item or LCT exemption. Where imported luxury cars are covered by an exemption, an exemption code can be used in our systems to indicate which LCT exemption is being claimed. A list of available exemptions (and associated codes) is provided below. - Source: Internet
  • A lease of a subject item is not considered to be a sale under the Luxury Tax regime. Lessors that carry on a business of leasing, but not selling, are not required to register and the Luxury Tax would, instead, apply when the lessor purchases a subject item. The cash flow effect of this tax should be considered when determining upfront charges and periodic lease payments charged by the lessor to the lessee. Registered vendors that lease subject items would be required to self-assess the tax when moving the subject item from inventory to lease. This reporting requirement will need to be closely tracked by registered dealerships that also lease subject items. - Source: Internet
  • You can be liable to pay the luxury car tax directly to the government if you import the car yourself, which can be both time-consuming and expensive. To do this you need things like an import approval, customs clearance, quarantine inspections and of course the transportation of the damn thing. In this instance, the luxury car tax is an extra cost you need to factor in. - Source: Internet
  • Peter buys a car from Paul’s CarMart, with a GST inclusive price of $88,000. This price includes GST payable on the supply, but excludes the luxury car tax on the supply. The luxury car tax value determined under section 5-20 is therefore $88,000. Assume that the luxury car tax threshold is $55,134, and there are no other charges connected with the supply. - Source: Internet
  • 2.44 The formula calculates the difference between the value of the luxury car and the luxury car tax threshold (refer to paragraphs 2.47 to 2.64). Since the luxury car tax value (generally, the price paid for the car) is GST inclusive, the formula then operates to take this out before applying the luxury car tax rate of 25% to the difference that exceeds the threshold. - Source: Internet
  • 2.16 However, according to paragraph 25-1(2)(b), if the supply of the car is goods and services tax (GST) – free under Subdivision 38-N of the GST Act, then the car is a luxury car if its value is greater than the luxury car tax threshold, and would be subject to luxury car tax. The policy is intended to replicate the treatment given to vehicles under WST whereby motor vehicles that are specially fitted out for transporting disabled persons seated in wheelchairs are excluded from the 45 % WST rate unless it is exempt because it is for an eligible disabled person (refer to Item 1(2) of Schedule 6 of the Sales Tax (Exemptions & Classifications) Act 1992 (ST(E&C) Act 1992). - Source: Internet
  • If you sell your vehicle, export it, or de-register it (i.e. declare it off-road), you will be owed a reimbursement for the surplus tax you have paid. To receive this refund, you must make sure that either you or the buyer submits a notice of sale to the vehicle registration authority. - Source: Internet
  • When Luxury Car Tax is payable on a vehicle, the LCT will already be included in the price quoted by a dealership for that car. Primary producers and tourism operators may be able to claim an LCT refund of up to $3,000.00 for eligible cars, including four-wheel and all-wheel vehicles. For primary producers this applies to one eligible vehicle per financial year. Tourism operators are able to claim the refund for each eligible vehicle per financial year. - Source: Internet
  • 2.51 Paragraph 5-20(1)(a) provides that the price of the supply excludes any amounts of luxury car tax included in that supply (note that previous luxury car tax amounts are taken into account under subsection 5-15(2)). The price also excludes any other Australian tax (including motor vehicle registration and third-party insurance), other than customs duty and GST. [Paragraph 5-20(1)(b)] - Source: Internet
  • LCT is a tax paid on new and used cars where the total price is more than the Luxury Car Threshold. The tax is computed against the amount that exceeds the threshold limit. The LCT Thresholds may change each financial year, which is currently set at $75,526 for fuel-efficient vehicles and $66,331 for all other vehicles. All car sales price exceeding the thresholds are subject to 33% LCT rate. - Source: Internet
  • 3.12 However, a decreasing adjustment arising from an adjustment event is only attributable to that tax period if the entity holds an ‘adjustment note’ at the time of lodging its GST return. Instead, the adjustment is attributable to the first tax period in which the entity holds the adjustment note when it lodges its return. See section 29-10 of the GST Act. - Source: Internet
  • 4.9 You are not required to be separately registered for luxury car tax. The rules that apply to registration under the GST Act will apply. Some of the key rules are: - Source: Internet
  • 1.9 The luxury car tax applies to taxable supplies of luxury cars by a registered entity. In contrast, luxury car tax applies to taxable importations of luxury cars regardless of whether or not the entity importing is registered or required to be registered. - Source: Internet
  • Non-rated vehicles (other than a used ZEV) $3 for each $100, or part of $100, of the dutiable value. $1,350, plus $5 for every $100, or part of $100, of the dutiable value. D $4 for each $100, or part of $100, of the dutiable value. $1,800, plus $6 for every $100, or part of $100, of the dutiable value. - Source: Internet
  • 2.12 Certain vehicles are specifically excluded from the definition of luxury car, ie. prescribed emergency vehicles and certain vehicles used for transporting disabled people. However, note that the exemption does not extend to all vehicles used by a particular class mentioned in the exemption, only the specific cars themselves. Also note that these exemptions are in addition to a supply excluded from a taxable supply of luxury cars that are found in subsection 5-10(2). - Source: Internet
  • 4.3 Liability to luxury car tax cannot extend to the Commonwealth or to a defined category of a Commonwealth entity. To ensure that Commonwealth entities are also effectively covered by luxury car tax, the entities will be notionally liable to luxury car tax and notionally have luxury car tax adjustments. [Section 21-1]. If you supply a luxury car to a Commonwealth entity you are required to charge luxury car tax on the value of the car above the luxury car tax threshold. - Source: Internet
  • 2.25 Not all supplies of cars are subject to luxury car tax. The LCT Bill provides a few circumstances where a supply of a car is not a taxable supply of a luxury car, and therefore not subject to luxury car tax. The main circumstance where a supply is not a taxable supply is where a person ‘quotes’ for the supply of the car. This is a special feature of the luxury car tax that allows registered entities to delay the incidence of tax until the retail sale. - Source: Internet
  • 3.25 If the corrected luxury car tax amount is less than the previously attributed luxury car tax amount, you will have paid more luxury car tax than you should. You will have a decreasing luxury car tax adjustment of an amount equal to the difference between the previously attributed luxury car tax amount and the corrected luxury car tax amount. [Section 15-25] - Source: Internet
  • The Luxury Tax will be payable by registered vendors on the sale of subject items delivered in Canada that exceed the price threshold of $100,000 for vehicles and aircraft and $250,000 for vessels. Sales of subject items to manufacturers, wholesalers, and retailers that are registered for the Luxury Tax will qualify for exemption. Non-registered importers will also pay the Luxury Tax on the importation of subject items. - Source: Internet
  • 1.6 Chapter 4 deals with some of the GST rules that will apply to you if you are liable to pay luxury car tax (for example registration, returns and anti-avoidance mechanisms). The Chapter also deals with several miscellaneous matters. For example, how the luxury car tax will be applied to the Commonwealth. The Chapter deals with the provisions generally found in Parts 4 and 5 to the LCT Bill. - Source: Internet
  • 2.13 A vehicle, or class of vehicle, that is specified in the regulations to be an emergency vehicle, is not a luxury car. It is intended that this would cover vehicles such as ambulances. [Paragraph 25-1(2)(a)] - Source: Internet
  • 2.2 You must pay luxury car tax if you make a taxable supply of a luxury car. [Section 5-5] You must also pay luxury car tax if you make a taxable importation of a luxury car. [Section 7-5] The provisions dealing with taxable supplies of luxury cars are found in Division 5 and the provisions dealing with taxable importations are found in Division 7. - Source: Internet
  • 2.38 If a car has not been, (and has never been), imported into Australia, then paragraph 5-10(3)(a) operates so that the car is not subject to luxury car tax if it is manufactured more than 2 years before the time of the supply. For example, a car manufactured in Australia in January 2001 and supplied in February 2003 will be more than 2 years old at the time of supply and is not subject to the luxury car tax. You will also need to refer to transitional arrangements that apply to sales of cars that were subject to a retail sale before 1 July 2000 in the A New Tax System (Wine Equalisation Tax and Luxury Car Tax Transition) Act 1999. - Source: Internet
  • 3.24 If the corrected luxury car tax amount is greater than the previously attributed luxury car tax amount, you will have paid less luxury car tax than you should. You will have an increasing luxury car tax adjustment of an amount equal to the difference between the corrected luxury car tax amount and the previously attributed luxury car tax amount. [Section 15-20] - Source: Internet
  • This will be done automatically if you notify DVLA of the sale (use section nine of your registration certificate V5C) or you are issued with a Certificate of Destruction. You should get a cheque within six weeks, and it’ll be sent to the address on the registration certificate (V5C). If you have road tax left on your car when you sell or scrap it, DVLA will refund any complete months that remain.This will be done automatically if you notify DVLA of the sale (use section nine of your registration certificate V5C) or you are issued with a Certificate of Destruction. You should get a cheque within six weeks, and it’ll be sent to the address on the registration certificate (V5C). - Source: Internet
  • Another concern is the $100,000 price threshold. There is no indexing for inflation. With annual inflation currently running at over 7% in Canada and supply chain issues worldwide, including chip shortages, how long until the $100,000 price threshold is no longer considered an adequate threshold for determining whether a vehicle is a “luxury”, as opposed to a barrier inhibiting middle class vehicle purchases and leases? - Source: Internet
  • 3.17 Adjustments arise out of circumstances that occur after the supply or importation. They increase or decrease the net amount. They can be made by the supplier, or the recipient or the importer, depending upon the circumstances. Adjustments will ensure that the correct amount of luxury car tax is imposed. - Source: Internet
  • 2.55 Subsection 5-20(3) provides that, in certain circumstances, the luxury car tax value of a car includes the price of all supplies and modifications in relation to that car. This feature is designed to prevent additional supplies and/or modifications being made to a car after the point of sale and excluded from luxury car tax. - Source: Internet
  • “The FCAI fully supports a considered withdrawal from the Luxury Car Tax. A graduated reduction of the tax over an agreed period, such as five years, could see the government end this inequitable taxation in a structured and responsible manner.” - Source: Internet
  • 4.13 If you are registered or required to be registered, you must lodge a GST return for each tax period that applies to you. Some of the key rules are: - Source: Internet
  • 2.40 The Government’s policy is that GST is a tax on consumption in Australia and generally, things that are not for consumption in Australia, such as exports, are GST - free. Similarly, a supply of a luxury car that is exported is not for consumption in Australia and is generally not a taxable supply of a luxury car, and hence not subject to luxury car tax. - Source: Internet
  • There is the issue of how effective this rebate mechanism would be to level the competitive landscape with foreign competitors of dealers. Certain of these conditions overlap with the point-of-sale GST/HST relief for zero-rated exported supplies of goods made by vendors (i.e. taxed at a 0% rate for GST/HST purposes). Whereas GST/HST relief is allowed at point-of-sale, the LT rebate mechanism means that the LT is still imposed by the dealer on the completion of the sale, subject to recovery by rebate at a later time, if all the conditions for the export rebate are met. - Source: Internet
  • 3.5 If you have a positive net amount, the GST Act requires you to pay that amount to the Commissioner. Generally, you must pay it on or before the 21st day of the month following the end of your tax period to which the payment relates. See paragraph 4.10 for a discussion of net amount. - Source: Internet
  • 3.39 You may be entitled to claim a credit for luxury car tax paid by yourself or the supplier of the luxury car. Credits are only available to people who are not entitled to an adjustment and may arise because the luxury car tax on the supply was overpaid, either because of an error in the calculation or by being unable to quote at the time of the supply or importation. Credits will ensure that the correct amount of luxury car tax is imposed. - Source: Internet
  • Where a registered dealer (vendor) sells a subject vehicle to another person registered in respect of subject vehicles under the Act, the purchaser could provide a prescribed purchase exemption certificate to the vendor to exempt the sale from LT. The certificate would include the registration number of the purchaser and unique identification number of the vehicle. In the certificate, the registered purchaser would acknowledge that the purchaser is assuming any liability to pay any amount of LT that is or may become payable by the purchaser. The vendor would retain the exemption certificate for audit purposes. - Source: Internet
  • 1.1 The A New Tax System (Luxury Car Tax) Bill 1999 (LCT Bill) introduces a luxury car tax, from 1 July 2000. It is a single stage tax that is imposed on taxable supplies and importations of luxury cars and is in addition to any goods and services tax (GST) that may be payable, but is not levied on top of the GST. - Source: Internet
  • 2.11 The luxury car tax threshold is the car depreciation limit that applies under Subdivision 42-B of the Income Tax Assessment Act 1997 (ITAA 1997) for the year in which the supply of the car occurred. [Subsection 25-1(3)] Refer to paragraphs 2.62 to 2.63 for more information on the luxury car tax threshold. - Source: Internet
  • The tax structure listed above does apply to all imported luxury cars nationwide, but there can also be an additional tax depending on what state you live in. For example, Victoria recently proposed an extra luxury car tax of 7% for vehicles with retail prices over $100,000 and 9% for those over $150,000. Queensland too has an additional luxury car tax, with sellers being slugged with an extra $2 per $100 over a threshold of $100,000. - Source: Internet
  • The purchaser cannot be a registered vendor of the subject vehicles. The registered dealer has reported and accounted for the tax as part of its net tax for the reporting period in which the LT became payable. The subject vehicle is not used in Canada between the time of its sale and exportation, except to the extent reasonably necessary or incidental to its manufacture, offering for sale, transportation or exportation. The subject vehicle is not registered with the Government of Canada or any province between the time of its sale and exportation, except if the registration is done solely for a purpose incidental to its manufacture, offering for sale, transportation or exportation. The purchaser exports the subject vehicle as soon after the sale is completed as is reasonable having regard to the circumstances surrounding the exportation and, if applicable, the normal business practice of the purchaser and vendor, and The purchaser provides to the dealer, and the vendor retains, evidence satisfactory to the Minister of National Revenue ( the “Minister“) of the export of the subject vehicle from Canada by the purchaser, or Prescribed conditions are met. - Source: Internet
  • 2.78 You do not make a taxable importation of a luxury car if luxury car tax has already become payable in respect of that car. This may apply where you have paid the luxury car tax payable on a luxury car and then later export it. When you re-enter that car into Australia you are generally not required to pay luxury car tax again (assuming you have not made an adjustment or claimed back the previous luxury car tax). [Paragraph 7-10(3)(b)] - Source: Internet
  • The LT is intended to be a one-time tax imposed on a “subject vehicle” above the $100,000 price threshold with a date of manufacture after 2018. A “subject vehicle” is a motor vehicle with four or more wheels designed or adapted primarily to carry individuals on highways and streets, has a seating capacity of not more than 10 individuals, and a weight not exceeding 3,856 kg. Therefore, motorcycles and commercial trucks and buses would generally be excluded, as would recreational and commercial vehicles designed for off-road use. - Source: Internet
  • 5.11 Businesses will be able to claim a credit for WST embedded in stock on hand on 1 July 2000. The credit will be included in the net amount in their GST return. Effectively, this is the difference between the luxury car tax and the WST already paid. Many businesses already undertake an annual stocktake and will not incur any additional cost. - Source: Internet
  • 3.38 The increasing luxury car tax adjustment will be the amount of luxury car tax payable on the amount recovered. Subsection 15-45(2) shows how to calculate the increasing luxury car tax adjustment. - Source: Internet
  • F or additional information, please see the Ministry of Finance bulletin: PST on ZEV Vehicles​ , which provides information on determining whether the vehicle qualifies, exemptions from PST and how to apply for a refund. If there are differences between the information displayed here and in the bulletin, the information in the bulletin shall prevail. Please note that neither ICBC nor Autoplan Brokers can refund a tax.​ - Source: Internet
  • 1.16 Part 1, Division 3 tells you about identifying some defined terms that are used in the LCT Bill. Section 3-1 explains what it means when certain terms used in the LCT Bill are marked with an asterisk (*). Section 3-5 provides some common terms that are not defined in the Dictionary or use an asterisk (such as ‘luxury car tax’, ‘supply’ and ‘you’) and section 3-10 explains about defined terms identified by bold italics. - Source: Internet
  • 2.22 The term connected with Australia is defined in the Dictionary as having the meaning given by section 9-25 of the GST Act. Generally, it is intended to cover all supplies of luxury cars that are: - Source: Internet
  • The sales tax applies to transfers of title or possession through retail sales by registered dealers or lessors while doing business. If the sale is made by a motor vehicle or trailer dealer or lessor who is registered, the sales tax rate is 6.25%. - Source: Internet
  • 2.71 An important difference between a taxable supply and a taxable importation of luxury car is that there is no registration requirement for a taxable importation, and the importer need not be carrying on an enterprise. Luxury car tax is generally payable in both of these cases. - Source: Internet
  • Calculate the value of the car’s government charges exclusive price that exceeds the LCT threshold, by subtracting the LCT threshold from the car’s price (calculated in step 1). Exclude the GST and LCT from the value of the car’s government charges exclusive price that exceeds the LCT threshold (calculated in step 2), by dividing this amount by 1.43 (10% GST + 33% LCT). Calculate the LCT included in the car’s sale price, by multiplying tax and government charges exclusive portion of the car’s price that exceeds the LCT threshold (calculated in step 3) by the LCT rate (0.33 - 33%). - Source: Internet
  • 2.9 A luxury car is defined in terms of whether the value of the car exceeds the luxury car tax threshold. [Subsection 25-1(1)] If it does, and is not specifically excluded from the definition, then it is a luxury car. If it does not, or if the car is specifically excluded from the definition, then it is not a luxury car and will not be subject to the luxury car tax. - Source: Internet
  • 3.20 If a luxury car tax adjustment event occurs resulting in an incorrect amount of luxury car tax being paid, you must adjust your net amount. A luxury car tax adjustment event would be an event such as the: - Source: Internet
  • 5.14 Given the abolition of the WST, and the introduction of the GST and a lower luxury car tax rate of 25%, the impact of this measure on consumers will be positive. The price of luxury cars will fall under the new arrangements by about the same amount as non-luxury cars. Overall non-luxury car prices for consumers are expected to fall by around 8.3%. - Source: Internet
  • On March 11, 2022, the federal Department of Finance released draft legislative proposals known as the Draft Select Luxury Items Act (the “Proposed Act”) to implement the Luxury Tax (the “LT”) on vehicles, aircraft and vessels as announced in the April 2021 federal Budget. The LT would apply on certain transactions involving cars and aircraft priced or valued at $100,000 or more, and boats priced at $250,000 or more. The tax would be calculated as the lesser of (1) 20 percent of the value above the applicable price or value threshold, or (2) 10 percent of the full price or value of the vehicle, aircraft or vessel. - Source: Internet
  • 1.5 Chapter 3 explains how amounts of luxury car tax are included in net amounts under the GST system, or when and how the tax will be paid if you import a luxury car. This Chapter also explains how adjustments to the net amount can arise out of circumstances that occur after the supply or importation of the car (for example, due to a bad debt). The Chapter deals with the provisions found in Part 3 to the LCT Bill. - Source: Internet
  • • any amounts of luxury car tax that have been payable in respect of any previous importation or supply of that car, taking into account any adjustments made (see paragraphs 2.65 to 2.68). - Source: Internet
  • 2.8 These concepts are explained in more detail immediately below. However, subsection 5-10(2) provides some exceptions to these concepts, so you must also refer to these to determine whether or not you will be liable to pay the luxury car tax (refer to paragraph 2.25 to 2.42 for further information on these exemptions). - Source: Internet
  • 2.63 The luxury car tax threshold is GST inclusive and is the car depreciation limit that applies under Subdivision 42-B of the ITAA 1997 for the year in which the supply of the car occurred. [Subsection 25-1(3)] The car depreciation limit for the 1998-99 financial year is $55,134. - Source: Internet
  • Specifically excluded are ambulances, hearses, police cars, fire trucks, and recreational home vehicles. Also excluded is a motor vehicle that is registered before the Implementation Date with a governmental authority, and in respect of which possession is transferred to the user of the vehicle before the Implementation Date. Thus, there may be a flurry of high-end vehicle leases and purchases completed before the Implementation Date to avoid the imposition of the LT. There are, however, transitional rules that relieve the LT on transactions entered into under agreements before April 20, 2021 (the Budget Announcement). - Source: Internet
  • That distinction could impose greater risks on dealers, and could warrant the dealers addressing them in their commercial terms in their sale and lease agreements with customers. For example, under the GST/HST legislation, vendors/lessors, as the GST/HST collection agents on the Government’s behalf, have direct recourse against their customers, the “taxpayers”, to pursue payment of GST/HST. Under the Proposed Act, the LT would be imposed on the registered dealers, and absent specific terms in their agreements with customers, they could have no recourse against customers for any shortfall in recovery of the LT. If, for example, the LT was miscalculated and not fully embedded in the price, then the dealer would bear the cost of that shortfall, absent a specific indemnification or other contractual recourse mechanism against the customer. - Source: Internet
  • 1.10 Registered entities may quote in relation to the supply or importation of a luxury car. The quoting system is designed to avoid the tax becoming payable until the car is sold or imported at the retail level. Generally, a recipient is entitled to quote if the car supplied to them is expected to be held solely as trading stock. - Source: Internet
  • 1.3 Chapter 1 of this explanatory memorandum (this Chapter) introduces you to the general concepts of the luxury car tax. It explains: - Source: Internet
  • You might be wondering why the luxury car is relevant to the average car buyer such as yourself, since it’s the importer who pays the tax, not you, the customer. But the simple fact is you do pay it, because after being taxed 33% on the extra value of that car, the seller often passes on that extra cost to you. They typically do this by adding this substantial extra cost onto the purchase price of the car. - Source: Internet
  • 1.11 The luxury car tax is paid in addition to GST above the luxury car tax threshold and GST will continue to apply to the full price of the car regardless of the price. It is expected that the additional compliance cost impact of this measure will be marginal because it will utilise the same remittance framework as the GST, that is, remitted to the Australian Taxation Office with the GST return. - Source: Internet
  • Motorcycles generally have lower emissions than cars but they are not covered by the Green Vehicle Guide. Under the Scheme, new and used motorcycles that are ZEVs are exempt from duty. New, non-ZEV motorcycles are categorised as B-rated vehicles to match their average environmental performance. Used non-ZEV motorcycles are taken to be non-rated vehicles. - Source: Internet
  • 2.61 The Commissioner of Taxation may enter into an agreement with you about calculating the luxury car tax values of particular supplies or importations of luxury cars. So far as the agreement is inconsistent with the LCT Bill, the agreement prevails. [Section 21-10] - Source: Internet
  • 2.4 If you satisfy the conditions in subsection 5-10(1), then you have made a taxable supply of a luxury car and must pay the amount of luxury car tax determined under section 5-15. However, certain supplies of luxury cars are not taxable supplies of luxury cars and as such, will not attract the tax. For example, a supply of a luxury car that is more than 2 years old is not a taxable supply of a luxury car and will not attract the tax. - Source: Internet
  • 2.1 This Chapter deals with the provisions found in Part 2 of the A New Tax System (Luxury Car Tax) Bill 1999 (LCT Bill) and sets out when you make a taxable supply or taxable importation of a luxury car. It also describes how to work out the amount of luxury car tax on those supplies and when you are entitled to quote in respect of a supply. - Source: Internet
  • Due to the unique nature of the LT, there are consequential challenges, concerns and risks that dealers and their financing entities need to address. In addition to what we have discussed above, non-compliance can give rise to offences and significant penalties. Dealers and their financing entities have to be pro-active in exercising appropriate due diligence, and in designing contractual terms to alleviate concerns and risks, while passing-on any potential tax savings, such as on export sales, to customers to facilitate sales. - Source: Internet
  • 1.13 As mentioned above, the luxury car tax is payable in addition to GST. However, the Government’s clear intention is that luxury car tax is calculated on the value of the car after GST has been taken out. To ensure this treatment occurs, the Government will consequentially amend the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) — (refer to section 9-75 of the GST Act). - Source: Internet
  • The vehicle is less than two years old, as measured from the build date for locally built cars, or the compliance date for imported cars. However, if a vehicle is sold used and LCT has already been paid on the vehicle (e.g. when it was sold new), a credit is applied for any LCT already paid. This means that except in the rare case where a used vehicle is sold for more than its new car value, LCT is effectively only payable on new cars and used demonstrator vehicles less than 2 years old. - Source: Internet
  • Application: To coincide with the commencement of the GST and the abolition of the WST from 1 July 2000, the luxury car tax will apply to all taxable supplies and importations of luxury cars on or after 1 July 2000. Generally, luxury car tax will not apply to cars which have been subject to WST. For example, it does not apply to second hand cars that are on-hand before 1 July 2000 and supplied after. The luxury car tax will also not apply to non-registered entities. For example, a private sale of a luxury car by an individual after 1 July 2000 will not attract the luxury car tax. - Source: Internet
  • 5.19 All LCT taxpayers are GST payers and will be included in the field coverage for GST. The LCT will cover an estimated 1550 motor vehicle dealers, with an estimated 800 being liable for regular payment of - Source: Internet
  • 1.15 Division 2 provides an overview of the luxury car tax legislation. Section 2-1 provides a brief explanation about what this legislation is about. Section 2-5 provides an overview of the luxury car tax and section 2-10 deals with paying the luxury car tax. Sections 2-15 to 2-25 deal with other miscellaneous matters. - Source: Internet
  • 3.6 Similarly, any luxury car tax adjustments attributable to the tax period will alter the net amount for that tax period. Any increasing luxury car tax adjustments will be added to the net amount for the period, while any decreasing luxury car tax adjustments will be subtracted from the net amount for the tax period. Luxury car tax adjustments must be made within 4 years after the tax period to which the original supply or importation relates. [Section 13-10] - Source: Internet
  • 3.29 For example, a car dealer did not quote when he purchased a luxury car because the car was to be used by the executives of the dealership. Luxury car tax was paid on the supply. However, when the car was delivered the executives didn’t use the car themselves but instead held it solely for trading stock. The car dealer is able to claim a decreasing luxury car tax adjustment. - Source: Internet
  • Important - Each LCT exemption is based on legislation that provides the basis for the exemption. The description of exemptions listed below is only a summary. Refer to the legislation to determine whether a specific commodity is taxable or exempt. Goods that do not fit the specific terms of the relevant legislation are not exempt. - Source: Internet
  • 2.29 The provisions that deal with quoting are found in Part 2, Division 9. Under this Division, you do not make a taxable supply of a luxury car if the recipient quotes for the supply of the car. [Paragraph 5-10(2)(a)] You are only entitled to quote if you are registered [subsection 9-5(2)] and if you intend to use the car one of the following purposes, and for no other purpose: - Source: Internet
  • 2.81 The amount of luxury car tax payable on a taxable importation is worked out in a similar way to luxury car tax payable on a taxable supply (refer to paragraphs 2.43 to 2.64). It is determined by the formula: - Source: Internet
  • The price is calculated in reference to any excise taxes and customs duties included in the price (e.g., the $100 federal excise tax on vehicle air conditioners and any federal excise tax imposed on a fuel-inefficient vehicles). The price is calculated without reference to any provincial retail sales tax (“PST“), the Quebec sales tax (“QST“) and the federal goods and services or harmonized sales tax (“GST” or “HST“), which are imposed on the LT. The price also includes delivery or freight charges. - Source: Internet
  • The LT is generally imposed on registered retail business vendors or lessors of a “subject vehicle” priced at or above the $100,000 threshold. The LT would arise at the time of the vehicle sale or commencement of the lease to a retail purchaser/lessee (consumer or end-user). Registered dealers selling or leasing such vehicles would be responsible for reporting and payment of the LT with quarterly returns due one month after each quarter. - Source: Internet
  • Let’s say we up the price to $500,000, if you’re feeling fancy. At $500,000, that car would attract an extra cost of around $130,000, thanks to the luxury car tax. So yeah, you could say it’s pretty expensive. - Source: Internet
  • 5.17 WST on cars is actually calculated by applying a statutory formula to the recommended retail price. Payment of WST is usually deferred until the sale of the car to the final consumer. In order to avoid double taxation (luxury WST and luxury car tax) during the transition, businesses will be able to claim WST paid on stock held on 1 July 2000 as an input tax credit, under Part 4 of the A New Tax System (Goods and Services Tax Transition) Act 1999. - Source: Internet
  • Cars registered between 1 March 2001 and 1 April 2017 that produce less than 100 grams and CO2 per kilometre driven are also exempt from paying VED. Zero emission vehicles, including electric cars and hydrogen-powered vehicles pay zero road tax.Cars registered between 1 March 2001 and 1 April 2017 that produce less than 100 grams and CO2 per kilometre driven are also exempt from paying VED. - Source: Internet
  • From July 1, the threshold for fuel-efficient vehicles will be increased by 6.6 per cent to $84,916, while for all other vehicles it’s up by only 3.9 per cent to $71,849. - Source: Internet
  • The exemption comes into effect every April, so April 2021 saw all cars built prior to 1 January 1981 become exempt. To be exempt, your car will need to be classified as a historic vehicle. You can do this at a Post Office, and you’ll need to take: • your log book (V5C form – needs to be in your name) • a vehicle tax reminder letter (V11 form) • a valid MOT certificate or evidence your car is MOT-exempt (V112 form) - Source: Internet
  • 2.90 Further, a quote is not effective unless it is made at or before the time of the supply or importation of the luxury car. [Subsection 9-15(2)] - Source: Internet
  • 3.7 Luxury car tax payable by you will be attributable to the same tax period that the GST on the supply is attributable to under Division 29 of the GST Act. If the supply of the luxury car is not a taxable supply under the GST Act, then luxury car tax is attributable to the tax period it would have been attributable to if it were a taxable supply. [Subsection 13-15(1)] - Source: Internet
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