Treasury Laws Amendment (Tax Incentives and Integrity) Act 2025 (29 of 2025)

Schedule 1   Luxury car tax

A New Tax System (Luxury Car Tax) Act 1999

1   Subsections 25-1(3) and (3A)

Repeal the subsections, substitute:

Luxury car tax threshold - general

(3) Subject to subsection (4), the luxury car tax threshold is:

(a) $80,567 if the supply of the car occurs, or the car is *entered for home consumption, in the 2024-25 *financial year; or

(b) if that supply, or entry for home consumption, is in a later financial year - the amount worked out for that financial year after indexing $80,567 annually using Subdivision 960-M of the *ITAA 1997.