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| Luxury Car Tax Thresholds - What is a Fuel Efficient Car? |
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Luxury Car Tax Thresholds - What is a Fuel Efficient Car?
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| Are you? |
- Intending to purchase a fuel efficient luxury car? |
| At a glance: |
- In 2008, the Government made amendments to the luxury car tax rules to increase the threshold above which fuel efficient motor vehicles are subject to the luxury car tax. |
| You should: |
- Be aware of the luxury car tax thresholds.
- Contact us if you require any clarification or advice. |
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| 1. |
Luxury car tax is an extra tax applied once a vehicle's price exceeds the luxury car tax threshold.
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| 2. |
The luxury car tax thresholds for the 2008/09 income year are:
- $75,000 for fuel efficient luxury cars; and
- $57 180 for all other luxury cars.
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| 3. |
The luxury car tax threshold for fuel efficient motor vehicles is higher in order to encourage people to purchase vehicles which are more environmentally friendly.
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| 4. |
A motor vehicle is classified as being fuel efficient if it has a fuel consumption not exceeding 7 litres per 100 kilometres.
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| 5. |
Luxury Car Tax applies at 33% for vehicles above the luxury car tax thresholds.
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| 6. |
For more information click here or visit the Australian Taxation Office website at http://www.ato.gov.au.
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