lct threshold 2023 24 Page 5

For the 2023–24 financial year in Australia, the Luxury Car Tax thresholds are AUD $89,332 for fuel‑efficient vehicles (rated at ≤7.0 L/100 km) and AUD $76,950 for other vehicles.

LCT is charged at 33% on the portion of the car’s GST‑inclusive value above the relevant threshold, including factory options and dealer delivery, but excluding rego, CTP, stamp duty and insurance.

Translation: buy something very nice, and the taxman invites himself to the party. If you’re skirting the threshold, a tweak in spec or options can tip you over faster than you can say “metallic paint”.

Applies to cars supplied between 1 July 2023 and 30 June 2024—check the ATO or your dealer for any edge cases or exemptions.