29 Jun 11
Car limit for 2011-2012 financial year – TD 2011/18
The car limit for the 2011-2012 financial year is $57,466, which is unchanged from 2010-2011: Taxation Determination TD 2011/18 (29 June 2011).
The car limit is used to work out decline in value deductions of certain cars under the income tax law. It is also used to set the luxury car tax threshold and is used to determine if luxury car tax is payable.