luxury car tax limit 2023

Chasing the Luxury Car Tax limit for 2023? For 2022–23 the threshold was $71,849 (standard vehicles) and $84,916 for fuel‑efficient cars (≤ 7.0 L/100 km). For 2023–24 it rose to $76,950 (standard) and $89,332 (fuel‑efficient).

LCT is charged at 33% on the portion of the GST‑inclusive vehicle price above the relevant threshold, and it includes factory options and delivery but not stamp duty or rego. As always, check the ATO or your accountant if you’re about to sign on the dotted line—because the taxman never forgets.