Luxury Car Tax Threshold
The minimum value (price) at which Luxury Car Tax must be paid on vehicles that meet Luxury Car Tax criteria. For the 2016-2017 financial year the threshold for regular vehicles is $64,132.00, and for fuel efficient vehicles is $75,526.00.
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LCT
Acronym for Luxury Car Tax. See Luxury Car Tax.
Luxury Car Tax
A tax paid on new passenger vehicles whose sale price exceeds the Luxury Car Tax Threshold. Luxury Car Tax is calculated as 33% of the GST exclusive portion of the vehicle’s purchase price over the Luxury Car Tax Threshold.