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The Luxury Car Tax (LCT) threshold on imported cars has been raised on regular cars for the 2018 / 19 financial year – but oddly NOT for fuel-efficient vehicles.
In fact, the LCT threshold for fuel-efficient vehicles has only been lifted $526 between 2010 to 2018 as can be seen in the following table.
The threshold for all other vehicles has been lifted by $9,151 over the same period, with the 2018 / 19 threshold lift resulting in a saving of about $400 per vehicle.
This doesn’t appear to make much sense considering the myriad of looming issues associated with climate change.
We believe the LCT threshold on fuel efficient vehicles should be lifted by as much, if not more than, the threshold on all other vehicles.
This is a time when fuel efficient vehicles should be actively encouraged by the Government using all available methods.
View the Australian Luxury Car Tax and Thresholds.