This is good news. You pay enough taxes to get the money to buy a 'luxury' vehicle over $57k, then to be slugged more tax again...
Quote:
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Senator Fielding had wanted to exempt farmers and those in the tourism industry who use cars, worth more than the tax threshold of $57,180, as tools of trade.
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Why only farmers and tourist operators? What defines tools of the trade? What about all the other people who require a vehicle that falls into LCT but aren't in those sectors, isn't that quite harsh to them? Rather than these complex systems our politicians keep introducing to 'help out' it should be one system or none. (Personally I do not see any reason for paying LCT at all as it is just a double dip on tax)