Australia: Consultation on draft legislation to amend fuel-efficient vehicle definition under luxury car tax
The consultation closes October 16, 2024.
Treasury released for consultation Treasury Laws Amendment (Fairer for Families and Farmers) Bill 2024: Luxury Car Tax—draft legislation that would amend the luxury car tax (LCT) law by:
- Reducing the maximum fuel consumption for a car to be considered fuel-efficient for purposes of the LCT to 3.5 litres/100 kilometres (from the current 7 litres/100 kilometres)
- Amending the index number used to index the LCT threshold from all groups consumer price index (CPI) to the motor vehicle purchase sub-group of the CPI
The consultation on the draft legislation closes October 16, 2024.