The Australian Tax Office has advised that it will raise the Luxury Car Tax (LCT) thresholds effective from 1st July 2023.
The LCT threshold for ‘fuel efficient’ vehicles will be raised from $84,916 to $89,332, and the LCT threshold for all other vehicles will increase from $71,849 to $76,950.
Nigel Malcolm, Chief Executive Officer of Fleetcare said “We welcome the increase introduced by the Australian Federal Government.”
“The LCT threshold increases are great…
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