lct limit 2023 Page 348

The Luxury Car Tax “limit” for 2023 isn’t one number; it depends on the financial year. For 2022–23, the LCT thresholds were $84,916 (fuel‑efficient ≤7.0 L/100 km) and $71,849 (other cars). For 2023–24, they rose to $89,332 (fuel‑efficient) and $76,950 (other). LCT is charged at 33% on the portion of the car’s GST‑inclusive value above the relevant threshold (registration and stamp duty don’t count toward that value). Many EVs and hybrids qualify for the higher “fuel‑efficient” threshold, which can save a tidy sum. Consult official documentation for exact figures.