Electric Vehicles Under Lct. If you purchase an electric car second hand, you need to determine if it was subject to lct at any time in the past. Bmw australia has announced some new electric vehicles that fall under the luxury car tax threshold, including the entry versions of the ix1, ix3 and the i4 sedan.
The luxury car tax (lct) is a compulsory levy that raises the price of many new vehicles in australia, but with the right choice, electric vehicle buyers can evade it. Starting july 1, level of lct for electric vehicles and fuel efficient cars will be further relaxed to $79,659, up by just under $2,000 from $77,565 in the 2020/21.
Cars With A Luxury Car Tax (Lct) Value Over The Lct Threshold Attract An Lct Rate Of 33%.
The new variants will cover three of its electric models including:
Supporting Both The Environment And Australians’ Wallets, The Federal Government Introduced A Law Last Year Exempting Electric Vehicles Priced Under The Luxury Car Tax.
The news comes as the federal government faces a projected shortfall in the $11.3 billion fuel excise, with forecasts showing 60 per cent of all new cars sold to be.
Thehub (Newbie) 16 Oct 2023.
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The Luxury Car Tax (Lct) Is A Compulsory Levy That Raises The Price Of Many New Vehicles In Australia, But With The Right Choice, Electric Vehicle Buyers Can Evade It.
Lct is a tax of 33 per cent paid on every dollar above the threshold on.
If You Purchase An Electric Car Second Hand, You Need To Determine If It Was Subject To Lct At Any Time In The Past.
The intention was the 33 per cent lct, plus the 10 per cent gst, would help ensure prices on imported luxury cars would remain stable.
Bmw Australia Says It Will Further Disrupt The Local Electric Vehicle (Ev) Market Next Year With Announcement Of Two Additional Variants Priced Below Key Tax Thresholds.