This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our PRIVACY POLICY for more information on the cookies we use and how to delete or block them.
Technical Update:

Automotive Update - Luxury Car Tax threshold and fuel-efficient car limit

19 April 2014

Kim Colyer , Partner, Audit & Assurance |

Earlier this week the Australian Taxation Office (ATO) released the Luxury Car Tax Determination (LCTD) 2014/2. This publication refers to the Luxury Car Tax (LCT) threshold and the fuel-efficient car limit.

The LCT threshold for the 2014-15 financial year has increased from $60,316 to $61,884.

The fuel-efficient car limit for the 2014-15 financial year remains at $75,375. This Determination applies to the financial year commencing 1 July 2014.

Dealer software and spreadsheets used to calculate the LCT should be updated to reflect this change.

View the ATO Determination.

If you would like to discuss any of the material raised in the document please contact your local automotive specialist.