The forward estimates from last night’s Federal Budget forecast a reduction in revenue from Luxury Car Tax and import duty on new motor vehicles – after eclipsing $1 billion in LCT for the first time.
Luxury Car Tax – an additional 33 per cent tax on most motor vehicles that cost in excess of $71,849 – could be scaled back in the years ahead if the forward estimates from last night’s 2023-24 Federal Budget are a guide.
Buried in the fineprint was a forecast…
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