A-Z of Business Terms

Luxury Car Tax (LCT)

Luxury car tax (LCT) is a tax on cars with a GST-inclusive value above the LCT threshold.

LCT is imposed at the rate of 33% on the amount above the luxury car threshold.

LCT is paid by businesses that sell or import luxury cars (dealers), and also by individuals who import luxury cars.

(Taken from ATO website)

July 19, 2016 16:10