Mercedes-Benz, BMW, and other prestige vehicles could get cheaper as Luxury Car Tax faces the axe

Luxury Car Tax on the chopping board as Federal Government eyes trade negotiations with Europe

This post appeared first on Chasing Cars. Australia’s controversial Luxury Car Tax (LCT) could be abolished as part of the newly reelected Albanese government’s attempts to negotiate favourable trade conditions with Europe in the face of volatile US trade tariffs and global economic uncertainty. A report published in The Australian claims that “a source close to the Prime Minister” has revealed that the Federal Government is “prepared to dump th…

Australia's Luxury Car Tax Could Soon Be History

According to reports, Prime Minister Anthony Albanese is prepared to scrap the Luxury Car Tax in Australia, as part of a wider trade deal with the EU. The Luxury Car Tax was introduced in 2001 to protect the Australian vehicle manufacturing industry, however, it has remained in place despite the industry effectively shutting down in 2017. Albanese aims to improve the strength of Australian exports to Europe with the removal of the tax, which gen…

One of Australia’s most controversial car taxes on the chopping block

While local car production ended almost a decade ago, the Luxury Car Tax has continued to drive up prices – but that may finally change.

Mercedes-Benz, BMW, and other prestige vehicles could get cheaper as Luxury Car Tax faces the axe

The controversial Luxury Car Tax could be scrapped as leverage for Australian exports to gain a better foothold in Europe.