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A NEW TAX SYSTEM (LUXURY CAR TAX) ACT 1999 - SECT 25.1
Meaning of luxury car
- (1)
- A luxury car is a * car whose * luxury car tax value exceeds the *
luxury car tax threshold.
- (2)
- However, a * car is not a * luxury car if it is:
- (a)
- a vehicle that is specified in the regulations to be an emergency vehicle,
or that is in a class of vehicles that are specified in the regulations to be
emergency vehicles; or
- (b)
- specially fitted out for transporting * disabled people seated in
wheelchairs (unless the supply of the car is * GST-free under Subdivision 38-P
of the * GST Act).
- (3)
- The luxury car tax threshold is the car depreciation limit that applies
under Subdivision 42-B of the * ITAA 1997 for the year in which the supply of
the car occurred.
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