Changing the definition of “fuel efficient cars” in Section 25.1(4) of the Luxury Car Tax Act 2008

Summary of proposal

The proposal would amend the definition of a ‘fuel efficient car’ for the purposes of the luxury car tax to include vehicles with a fuel consumption of no more than 4 litres per 100km (the current definition includes vehicles with a fuel consumption of no more than 7 litres per 100km).

The request also sought an assessment of the behavioural impact of the proposal on the sale of luxury cars.

The proposal would start 1 July 2023.

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Changing the definition of “fuel efficient cars” in Section 25.1(4) of the Luxury Car Tax Act 2008

Summary of proposal

The proposal would amend the definition of a ‘fuel efficient car’ for the purposes of the luxury car tax to include vehicles with a fuel consumption of no more than 4 litres per 100km (the current definition includes vehicles with a fuel consumption of no more than 7 litres per 100km).

The request also sought an assessment of the behavioural impact of the proposal on the sale of luxury cars.

The proposal would start 1 July 2023.

Read more

Changing the definition of “fuel efficient cars” in Section 25.1(4) of the Luxury Car Tax Act 2008

Summary of proposal

The proposal would amend the definition of a ‘fuel efficient car’ for the purposes of the luxury car tax to include vehicles with a fuel consumption of no more than 4 litres per 100km (the current definition includes vehicles with a fuel consumption of no more than 7 litres per 100km).

The request also sought an assessment of the behavioural impact of the proposal on the sale of luxury cars.

The proposal would start 1 July 2023.

Read more

Changing the definition of “fuel efficient cars” in Section 25.1(4) of the Luxury Car Tax Act 2008

Summary of proposal

The proposal would amend the definition of a ‘fuel efficient car’ for the purposes of the luxury car tax to include vehicles with a fuel consumption of no more than 4 litres per 100km (the current definition includes vehicles with a fuel consumption of no more than 7 litres per 100km).

The request also sought an assessment of the behavioural impact of the proposal on the sale of luxury cars.

The proposal would start 1 July 2023.

Read more

Stage 3 tax cuts distributional analysis

Summary of proposal

The request sought estimated financial implications and distributional analysis of Stage 3 of the personal income tax plan as set out in the 2018-19 Budget measure Personal income tax plan and the 2019-20 Budget measure Lower taxes for hard-working Australians: Building on the Personal Income Tax Plan over the medium term. The Stage 3 tax cuts take effect from 1 July 2024 and involve:

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Stage 3 tax cuts distributional analysis

Summary of proposal

The request sought estimated financial implications and distributional analysis of Stage 3 of the personal income tax plan as set out in the 2018-19 Budget measure Personal income tax plan and the 2019-20 Budget measure Lower taxes for hard-working Australians: Building on the Personal Income Tax Plan over the medium term. The Stage 3 tax cuts take effect from 1 July 2024 and involve:

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Budget analysis of interactions between the Australian Labor Party’s election commitments (PER475)

Summary of proposal

This analysis provides estimates of the material interactions between the Australian Labor Party’s election commitments. This analysis should be read in conjunction with the costings of each of the policy proposals identified as having a material interaction.

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Powering Australia - Electric Car Discount (ECR124)

Summary of proposal

This proposal has 2 components for temporary concessions for passenger electric vehicles (EVs) priced below the luxury car tax (LCT) threshold for fuel efficient vehicles.

  • Component 1 – Eligible EVs would be exempt from remaining import tariffs.
  • Component 2 – Eligible EVs would be exempt from Fringe Benefits Tax (FBT).

This proposal would be announced and take effect from 1 July 2022.

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Powering Australia - Electric Car Discount (ECR124)

Summary of proposal

This proposal has 2 components for temporary concessions for passenger electric vehicles (EVs) priced below the luxury car tax (LCT) threshold for fuel efficient vehicles.

  • Component 1 – Eligible EVs would be exempt from remaining import tariffs.
  • Component 2 – Eligible EVs would be exempt from Fringe Benefits Tax (FBT).

This proposal would be announced and take effect from 1 July 2022.

Read more

Powering Australia - Electric Car Discount (ECR124)

Summary of proposal

This proposal has 2 components for temporary concessions for passenger electric vehicles (EVs) priced below the luxury car tax (LCT) threshold for fuel efficient vehicles.

  • Component 1 – Eligible EVs would be exempt from remaining import tariffs.
  • Component 2 – Eligible EVs would be exempt from Fringe Benefits Tax (FBT).

This proposal would be announced and take effect from 1 July 2022.

Read more