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Luxury car tax (LCT) is a tax on cars that have a GST-inclusive value above a certain threshold. For the 2024-25 income year, the threshold is $91,387 for fuel-efficient vehicles and $80,567 for other vehicles. LCT is imposed at the rate of 33% on the amount above the threshold and is paid by businesses that sell or import luxury cars (dealers), and by individuals who import luxury cars.
LCT is paid as part of the entity's activity statement, the tax period is the same as the entity's tax period for GST (which may be monthly, quarterly or annually). Purchasers are not entitled to claim back the cost of the LCT.
MORE: See the ATO website for more information on Luxury car tax and for instructions on filling out the LCT section of the Activity Statement.
