A New Tax System (Luxury Car Tax) Act 1999

Part 1 - Preliminary  

Division 2 - Overview of the luxury car tax legislation  

2-10   Paying the luxury car tax (Part 3)  

(1)    

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Amounts of luxury car tax are included in net amounts under the GST system. This has the effect of incorporating the luxury car tax into the payments and refunds system for the GST. However, assessed luxury car tax on importations is paid with customs duty (where appropriate). ( Division 13 )

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History

S 2-10(1) amended by No 39 of 2012, s 3 and Sch 1 item 130, by substituting " assessed luxury car tax on importations " for " luxury car tax on importations " , applicable in relation to payments and refunds that relate to tax periods, and fuel tax return periods, starting on or after 1 July 2012; and also in relation to payments and refunds that: (a) do not relate to any tax periods or fuel tax return periods; and (b) relate to liabilities or entitlements that arose on or after 1 July 2012.

(2)    
Adjustments to the net amount can arise out of circumstances that occur after the supply or importation of the car. ( Division 15 )

(3)    
Credits can arise for people who are not entitled to an adjustment but who, for example, have paid too much tax. ( Division 17 )

(4)    
Refunds can arise for primary producers and tourism operators in certain circumstances. ( Division 18 ).

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S 2-10(4) inserted by No 101 of 2008, s 3 and Sch 2 item 1, applicable to taxable supplies of luxury cars and taxable importations of luxury cars on or after 1 July 2008.

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