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24 Sep 08 Luxury Car Tax Bills passed by Senate with requests for amendments

On 23 September 2008, Tax Laws Amendment (Luxury Car Tax) Bill 2008 was passed by the Senate with requests for amendments proposed by the Government, Family First Party (Senator Fielding) and Senator Xenophon. The following 3 related Bills were passed without any requests for amendments:

  • A New Tax System (Luxury Car Tax Imposition - General) Amendment Bill 2008
  • A New Tax System (Luxury Car Tax Imposition - Customs) Amendment Bill 2008
  • A New Tax System (Luxury Car Tax Imposition - Excise) Amendment Bill 2008

The Government’s request for an amendment to the Tax Laws Amendment (Luxury Car Tax) Bill 2008 has the objective of establishing a $75,000 fuel-efficient car limit for vehicles with a fuel consumption not exceeding 7 litres per 100 kilometres as a combined rating under vehicle standards in force under section 7 of the Motor Vehicle Standards Act 1989 to apply from the date of Royal Assent. For fuel-efficient cars, the fuel-efficient car limit replaces the luxury car tax threshold in a calculation of luxury car tax payable.

The Family First Party's request for an amendment provides refunds for primary producers and tourism operators.

Senator Xenophon's request for an amendment provides for indexation, from 1 July 20012, of the luxury car tax threshold as at 30 June 2012, and also provides that the increase in luxury car tax does not apply to contracts to make the taxable supply or taxable importation of a luxury car that was entered into before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008.

For a copy of the Government's amendments, go here.

For a copy of the Government's Supplementary EM, go here.

For a copy of Family First Party's amendments, go here.

The Bill now returns to the House of Representatives for consideration of the Senate's requests for amendments.

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