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03 Jun 2021 GST

Luxury car tax rate and thresholds

 Cars with a luxury car tax (LCT) value over the LCT threshold attract an LCT rate of 33%.

 The LCT thresholds for the 2021–22 financial year are:

  • Fuel efficient vehicles – $79,659;
  • Other vehicles – $69,152.

For LCT thresholds in previous financial years, refer to Luxury car tax thresholds. For LCT rates before 3 October 2008, refer to Luxury car tax rate – previous years.

Working out the luxury car tax on an import

The formula for working out the luxury car tax (LCT) amount you must pay if you import a car is: (LCT value – LCT threshold) × 10 ÷ 11 × 33%.

More information, including a worked example, can be found here.

Working out the luxury car tax on a sale

The formula for working out the luxury car tax (LCT) amount you must pay if you sell a car is: (LCT value − LCT threshold) × 10 ÷ 11 × 33%.

More information can be found here.

Basic method for heavy vehicles

You can use the basic method for heavy vehicles to calculate fuel tax credits for diesel used in heavy vehicles if you claim less than $10,000 each year.

More information, including how to calculate your fuel tax credits for the tax period, can be found here. See also PCG 2021/2 Fuel tax credits – basic method for heavy vehicles.

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