Tax experts have renewed calls to abolish the Luxury Car Tax, which was introduced in 2000 by the Howard Government to protect the local car assembly industry:
In a submission ahead of the May 2022-23 Federal Budget announcement, professional accounting body – Certified Practising Accountants (CPA) Australia – said Luxury Car Tax was a complex and costly “remnant” of the bygone era of Australian manufacturing…
Since Luxury Car Tax was indexed to inflation – and the cost of new cars has risen – Luxury Car Tax has inadvertently hit more Toyotas than it has Porsches…