Tax Laws Amendment (Luxury Car Tax) Act 2008 (101 of 2008)

Schedule 1   Luxury car tax

A New Tax System (Luxury Car Tax) Act 1999

1   Subsection 5-15(1) (formula)

Repeal the formula, substitute:

Rate x (10 / 11) x [*Luxury car tax value - *Luxury car tax threshold]

where:

rate is the rate applicable under:

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

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

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