A New Tax System (Luxury Car Tax) Act 1999

Part 2 - Luxury car tax  

Division 7 - Taxable importations of luxury cars  

7-15   The amount of luxury car tax  

(1)    

The amount of luxury car tax payable on a * taxable importation of a luxury car is as follows:

Rate

×

10 11

×

[ * Luxury car tax value − * Luxury car tax threshold ]

where:

luxury car tax value
of the * car is the sum of:

(a) the customs value (for the purposes of Division 2 of Part VIII of the Customs Act 1901 ) of the car and of any * car parts , accessories or attachments covered by subsection 7-10(2) ; and

(b) the amount paid or payable:

(i) for the * international transport of the car and any car parts, accessories or attachments covered by subsection 7-10(2) to their * place of consignment in the indirect tax zone; and

(ii) to insure the car and any car parts, accessories or attachments covered by subsection 7-10(2) for that transport;

to the extent that the amount is not already included under paragraph (a); and

(c) any * customs duty payable in respect of the * importation of the car and of any car parts, accessories or attachments covered by subsection 7-10(2) ; and

(d) any * GST payable in respect of the importation of the car and of any car parts, accessories or attachments covered by subsection 7-10(2) ; and

(e) if the * importation of the car is * GST-free (to an extent) because of paragraph 13-10(b) of the * GST Act in conjunction with Subdivision 38-P of that Act - an amount equal to the amount of * GST that was not payable because of paragraph 13-10(b) and Subdivision 38-P .

rate
is the rate applicable under:

(a) the A New Tax System (Luxury Car Tax Imposition - General) Act 1999 ; or

(b) the A New Tax System (Luxury Car Tax Imposition - Customs) Act 1999 ; or

(c) the A New Tax System (Luxury Car Tax Imposition - Excise) Act 1999 .

(2)    

The Commissioner may, in writing:

(a) determine the way in which the amount paid or payable for a specified kind of transport or insurance is to be worked out for the purposes of paragraph (b) of the definition of luxury car tax value in subsection (1) ; and

(b) in relation to importations of a specified kind or importations to which specified circumstances apply, determine that the amount paid or payable for a specified kind of transport or insurance is taken, for the purposes of that paragraph, to be zero.