lct threshold 2023 Page 7

The Luxury Car Tax (LCT) threshold for the 2023 financial year in Australia is set at $71,849. This means that if your new or imported luxury vehicle's value exceeds this amount, the LCT applies to the portion above the threshold at a rate of 33%. Used car prices can vary, but LCT is generally calculated based on the sale price or market value if applicable. Remember, this threshold can change yearly, so checking official sources or ServiceCentral will keep you honest.