LCT Compliance: How to Safeguard Your Business from Luxury Car Tax Errors
The Luxury Car Tax (LCT) is an Australian tax applied to vehicles exceeding specific value thresholds.
As of the 2024–25 financial year, LCT is levied at 33% on the GST-inclusive value of a car exceeding $80,567, or $91,387 for fuel-efficient vehicles with a combined fuel consumption not exceeding seven litres per 100 kilometres.