FAQ: What is Luxury Car Tax (LCT)?
What is Luxury Car Tax (LCT)?
Luxury Car Tax (LCT) is a tax that applies to the sale of new and used demonstrator vehicles where the purchase price (including GST, but excluding other government fees and charges) exceeds the Luxury Car Tax Threshold. The Luxury Car Tax Threshold is subject to change each financial year. For the 2011-2012 financial year the threshold is $57,466.00 (including GST).
Luxury Car Tax (LCT) only applies to the portion of the vehicle's purchase price that exceeds the Luxury Car Tax Threshold.
Please note that this information is of a general nature only. You should consult an accountant to obtain information specific to your situation.
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