Luxury car ahhhhhhhhhhhhhhh!!!!!!
Jun 27th 2005, 8:25 pm
#1
BE Enthusiast
Thread Starter
Joined: Mar 2005
Location: Sutton Coldfield now beautiful Karalee
Posts: 530
Luxury car ahhhhhhhhhhhhhhh!!!!!!
Can somebody please tell us what cars attract luxury car tax, when importing as a personal vehicle by british migrants
Cheers mates
Cheers mates
Jun 27th 2005, 10:19 pm
#2
Joined: Jan 2003
Posts: 13,233
Re: Luxury car ahhhhhhhhhhhhhhh!!!!!!
Have you tried the ATO?
This is from their website:
This is from their website:
Originally Posted by ATO
Part 1 Overview What is luxury car tax?
From 1 July 2000, the wholesale sales tax on cars was abolished and replaced by the goods and services tax (GST). The 45 percent wholesale sales tax on luxury cars was replaced by a 25 percent luxury car tax, which is additional to any GST payable on luxury cars.
The Government introduced luxury car tax to ensure that the price of a luxury car falls by about the same amount as the price of a car just under the luxury car tax threshold. The tax will generally be paid when a car is sold or imported at the retail level.
What vehicles are subject to luxury car tax?
Cars with a GST-inclusive value above the luxury car tax threshold are subject to luxury car tax. (see Part 2 'What is a luxury car?')
In general, the luxury car tax value of a car includes the value of any parts, accessories or attachments supplied or imported at the same time as the car.
Part 2 What Is A Luxury Car?
A luxury car is a car with a GST-inclusive value exceeding the luxury car tax threshold.
The luxury car tax legislation defines 'car' to mean a 'motor vehicle' (except a motor cycle or similar vehicle) designed to carry a load of less than two tonnes and fewer than nine passengers, or a limousine (regardless of the number of passengers it is designed to carry).
A 'motor vehicle' means a motor-powered road vehicle (including a four-wheel drive vehicle).
'Car' includes all passenger cars, station wagons, four-wheel drive vehicles and limousines.
What is the luxury car tax threshold?
The luxury car tax threshold is a GST-inclusive value equal to the car depreciation limit which may change each year. The luxury car tax threshold for the 2000-2001 financial year is $55 134.
From 1 July 2000, the wholesale sales tax on cars was abolished and replaced by the goods and services tax (GST). The 45 percent wholesale sales tax on luxury cars was replaced by a 25 percent luxury car tax, which is additional to any GST payable on luxury cars.
The Government introduced luxury car tax to ensure that the price of a luxury car falls by about the same amount as the price of a car just under the luxury car tax threshold. The tax will generally be paid when a car is sold or imported at the retail level.
What vehicles are subject to luxury car tax?
Cars with a GST-inclusive value above the luxury car tax threshold are subject to luxury car tax. (see Part 2 'What is a luxury car?')
In general, the luxury car tax value of a car includes the value of any parts, accessories or attachments supplied or imported at the same time as the car.
Part 2 What Is A Luxury Car?
A luxury car is a car with a GST-inclusive value exceeding the luxury car tax threshold.
The luxury car tax legislation defines 'car' to mean a 'motor vehicle' (except a motor cycle or similar vehicle) designed to carry a load of less than two tonnes and fewer than nine passengers, or a limousine (regardless of the number of passengers it is designed to carry).
A 'motor vehicle' means a motor-powered road vehicle (including a four-wheel drive vehicle).
'Car' includes all passenger cars, station wagons, four-wheel drive vehicles and limousines.
What is the luxury car tax threshold?
The luxury car tax threshold is a GST-inclusive value equal to the car depreciation limit which may change each year. The luxury car tax threshold for the 2000-2001 financial year is $55 134.
Jul 31st 2006, 5:34 pm
#3
Just Joined
Joined: Jul 2006
Location: Live in Bedford at present but going to Melbourne
Posts: 2
Re: Luxury car ahhhhhhhhhhhhhhh!!!!!!
LCT is determined by the value of the car not the make/model. If the 'as landed' value + Import duty + GST exceeds $57K you will have to pay 25% LCT on the amount over and above the $57K - not very likely.
Jul 31st 2006, 7:39 pm
#4
Life's a gamble
Joined: Sep 2005
Location: Solihull2Gold Coast-Sept '06
Posts: 2,492
Re: Luxury car ahhhhhhhhhhhhhhh!!!!!!
Originally Posted by trishandchris
LCT is determined by the value of the car not the make/model. If the 'as landed' value + Import duty + GST exceeds $57K you will have to pay 25% LCT on the amount over and above the $57K - not very likely.
You will pay more on insurance as it will be classed as an import, and it will be worth less than same spec cars in OZ, again cos it's an import.
IMHO not worth the hassle.
Jul 31st 2006, 8:55 pm
#5
Melbourne Australia
Joined: Feb 2006
Posts: 4,169
Re: Luxury car ahhhhhhhhhhhhhhh!!!!!!
Originally Posted by The S's
Can somebody please tell us what cars attract luxury car tax, when importing as a personal vehicle by british migrants
Cheers mates
Cheers mates
