Luxury car tax

[Utemad]

Budget shock for luxury car buyers

May 10, 2008 - 10:53PM

The federal government will increase the tax on luxury cars priced over $57,000 in the first budget tax increase in more than a decade.
The tax increase, to be introduced in Treasurer Wayne Swan's first budget, will affect the sales of about 105,000 cars per year, according to newspaper reports.
The tax will increase from 25 per cent to 33 per cent and is mainly aimed at high-end imported vehicles.
Ninety per cent of luxury cars are imported. The tax rise will also impact on locally produced vehicles such as the Holden Caprice, Holden Statesman, Ford's Falcon G6E and the Territory Ghia.
Media reports have revealed that the tax will apply to the GST-exclusive value of cars that cost more than $57,123.
Mr Swan said people on six figure salaries were "doing pretty well in Australia".
"It's abundantly clear that there are some people who are receiving government benefits who are on very, very high incomes, who don't need them," Mr Swan told News Ltd.
"And we ought to have a discussion in Australia about whether we can continue to afford that."
AAP
Budget shock for luxury car buyers - National - BrisbaneTimes

[WhiteD3]

Yep, welcome to the worker's utopia comrade! Where we take from the "rich" and give to the "poor".

[harry]

does that mean they will restart the valiant factory, and we will all have to drive dunnydores, ap5's or falcons

[procrastination inc]

swings and round abouts fellas

[McDisco]

Doesnt matter much to me! Cant afford a luxury car anyway!

Angus

[Hymie]

Luckily a new 130 defender sneaks in by a few grand.

[vnx205]

$57,123 excluding GST means almost $63,000 doesn't it?

Ok, it's not going to worry me either.

In fact it's not likely to affect me until it is applied to second hand vehicles below about $10 to $15,000.

[RonMcGr]

Yep!
That is Krudd trying to turn Australia into a socialist Country.
Had to happen... It will get worse, as well!
Vote in a clown, expect a circus!

[procrastination inc]

Australia IS socialist, has been for a long time.

Medicare, federally funds for roads, schools, hospitals are all socialist behaviours.

You want to revoke that and revert to user pays for everything?

This increase is one attempt of many to pull some steam out of the economy. Interest rate hikes will hit the bottom and middle earners pretty hard, the top earners won't feel that so much (unless they are foolish enough to be over extended). This sort of thing provides balance

[29dinosaur]

Yep!

Vote in a clown, expect a circus!

So what gem do you have for Julia?