lct

[deano59]

hi
was just wondering if lct needs to be paid when buying a cobra I think the cut off point is around $59.000 ? but if you build a new cobra and say it cost you 90G to put on the road do you have to pay the tax on something you have built yourself ?
I cant really find a answer in searching so has any body been slugged with it when buying a second-hand cobra or getting your car on the road for he first time .... been the tight arse that I am I hate giving the govt one cent more than I have too

cheers tight arse deano

[400TT]

Deano, LCT is not applicable to new kit cars(ICV's).

Also LCT is not applicable to any used car.

[deano59]

thanks for that craig . it just come up in conversation and I had no idea I knew someone on here would set me straight.
cheers dean

[spookypt]

Deano, on top of what Craig has said you will also find if you imported new or used that LCT would apply. Can't remember the threshold but it was set about anything above $65k ish from memory.

Spookypt

[jcraigau]

https://www.ato.gov.au/rates/luxury-car-tax-rate-and-thresholds/