Luxury car tax applies where the GST-inclusive price of a motor vehicle exceeds a certain threshold. The threshold for the 2023/24 income years is currently $89,332 for fuel-efficient cars and $76,950 for all other vehicles. From 1 July 2024 these will be $91,387 and $80,567.
Generally, the tax is calculated at a rate of 33% for the amount over the threshold.
Eligibility
Tourism Operators and Farmers (primary producers) are eligible for a partial refund of the luxury car tax they pay on the purchase of a suitable four-wheel and all-wheel drive cars. This refund is up to a maximum of $10,000.
Eligibility Criteria
Tourism Operators
Tourism operators can claim a refund for all eligible cars. Therefore, multiple claims can be made each year.
Farmers
Primary producers can only claim one refund per financial year, and the refund claim must be within four years of purchase.
NOTE: the refund applies even if the car is purchased through a financing arrangement.
The refund is calculated as the lessor of:
If you have any questions, please contact Brentnalls SA and ask to speak to one of our advisors. Helping businesses achieve their goals is our passion and our strength is in our dedicated professional team. Brentnalls SA provide services in the Agribusiness industry.
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Disclaimer
The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.
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We acknowledge the Traditional Owners of the land where we work and live. We pay our respects to Elders past, present and emerging. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who also work and live on this land.
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Our Location
255 Port Road
HINDMARSH SA 5007
PO Box 338
Welland SA 5007
"We feel confident in our financial decisions and can focus on growing our business with peace of mind."
John & Barbara Kalleske
Kalleske Vineyards Pty Ltd