luxury car tax 2023 Page 5

Luxury Car Tax in Australia for 2023–24 hits the bit above the threshold, not the whole sticker—because that would be too sensible.

For 1 July 2023–30 June 2024 the thresholds are: $76,950 for “other” vehicles and $89,332 for fuel‑efficient cars (under 7.0 L/100 km, including EVs).

The rate is 33% on the GST‑inclusive price above the threshold, after options and dealer delivery but before on‑roads like rego and stamp duty.

A $100,000 fuel‑efficient car cops LCT on roughly $10,668 (the amount above $89,332), which is about $3,520 in LCT—yes, it adds up.

Exemptions apply to certain commercial vehicles and schemes, and thresholds change each financial year; talk to the ATO or your accountant for the fine print.

Consult official documentation for exact figures.