19 June 2021 - GAP Accountants

Luxury car tax thresholds

The ATO has updated the luxury car tax (‘LCT’) thresholds for the 2021/22 financial year.

The LCT threshold for fuel efficient vehicles in 2021/22 is $79,659 (up from $77,565 in 2020/21) and the LCT threshold for other vehicles in 2021/22 is $69,152 (up from $68,740 in 2020/21).

Editor: Note that these thresholds determine whether LCT is payable, and are different from the luxury car depreciation limit of $60,733 for 2021/22.

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