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#EveryoneNeedsAPlan: Luxury Car Tax on Utes
Posted by G. Dean McKinnon
on 10 November 2023
The Australian Tax Office ('ATO') has provided their 'guidance' on the application of the Luxury Car Tax ('LCT') for vehicles, based on its principal purpose:
- Generally 'commercial' vehicles such as utes with a load capacity of 1 ton or more were considered commercial and therefore not subject to LCT
- The ATO now wants to know more about the vehicle's principal purpose rather than its type before determining if the vehicle is subject to the LCT
- The 'guidance' is not straight forward, so it is recommended that the purchaser seek advice from a suitably qualified tax professional before finalising the purchase of new
Author:G. Dean McKinnon
| Tags:Tax |
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