A New Tax System (Luxury Car Tax) Act 1999

Div 25 heading substituted by No 176 of 1999, s 3 and Sch 1 item 187, effective 1 July 2000. The heading formerly read:

Division 25 - Meaning of some important concepts

S 25-1(2) amended by No 92 of 2000, s 3 and Sch 11 item 16F, by inserting " ; or " at the end of para (b), and by inserting paras (c) and (d), effective 1 July 2000.

S 25-1(3) amended by No 101 of 2008, s 3 and Sch 1 item 11, by inserting " (3A) and " after " Subject to subsection " . For application provision, see history note under s 5-15(1) .

S 25-1(3) amended by No 101 of 2008, s 3 and Sch 1 items 4 and 5, by substituting " Subject to subsection (4), the " for " The " , applicable to taxable supplies of luxury cars and taxable importations of luxury cars on or after 3 October 2008 (regardless of when contracts for the supplies or importations were entered into). For further application provision, see history note under s 5-15(1) .

S 25-1(3) substituted by No 77 of 2001, s 3 and Sch 2 item 15, applicable to:

(a) depreciating assets:

(i) you start to hold under a contract entered into after 30 June 2001; or

(ii) you constructed where the construction started after that day; or

(iii) you start to hold in some other way after that day; and

(b) expenditure that does not form part of the cost of a depreciating asset incurred after that day.

S 25-1(3) formerly read:

(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:

(a) the supply of the car occurred; or

(b) the car was *entered for home consumption.

S 25-1(3) amended by No 176 of 1999, s 3 and Sch 1 item 188, by substituting " year in which:

(a) the supply of the car occurred; or

(b) the car was *entered for home consumption. "

for " year in which the supply of the car occurred. " , effective 1 July 2000.

S 25-1(3A) inserted by No 101 of 2008, s 3 and Sch 1 item 12. For application provision, see history note under s 5-15(1) .

S 25-1(4) inserted by No 101 of 2008, s 3 and Sch 1 item 6, applicable to taxable supplies of luxury cars and taxable importations of luxury cars on or after 3 October 2008 (regardless of when contracts for the supplies or importations were entered into). For further application provision, see history note under s 5-15(1) .

S 25-1(4) amended by No 164 of 2018, s 3 and Sch 4 item 2, by substituting " national road vehicle standards in force under section 12 of the Road Vehicle Standards Act 2018 " for " vehicle standards in force under section 7 of the Motor Vehicle Standards Act 1989 " , effective 1 July 2021.

S 25-1(5) inserted by No 101 of 2008, s 3 and Sch 1 item 6, applicable to taxable supplies of luxury cars and taxable importations of luxury cars on or after 3 October 2008 (regardless of when contracts for the supplies or importations were entered into). For further application provision, see history note under s 5-15(1) .

S 25-1(6) inserted by No 101 of 2008, s 3 and Sch 1 item 6, applicable to taxable supplies of luxury cars and taxable importations of luxury cars on or after 3 October 2008 (regardless of when contracts for the supplies or importations were entered into). For further application provision, see history note under s 5-15(1) .