What is luxury car limit?

The luxury car tax (LCT) threshold for the 2023-24 financial year in Australia is $76,950 for fuel-efficient vehicles and $68,740 for other vehicles. Cars priced above these limits attract a 33% tax on the value exceeding the threshold.

How to avoid LCT in Australia?

To avoid the luxury car tax (LCT) in Australia, you'd need to purchase a new vehicle that falls below the LCT threshold or opt for a fuel-efficient vehicle, which has a higher LCT threshold. You can also buy a second-hand luxury car, as LCT is not applied to used vehicles .

Is luxury car tax deductible in Australia?

Luxury car tax (LCT) is generally not tax-deductible in Australia. However, businesses registered for GST may be able to claim GST credits up to the luxury car limit. It is advisable to consult with a tax professional for specific advice regarding deductions.c

Compare Car Loans Archives

Luxury Car Loans Australia

If a luxury car is on your shopping list, compare a range of loans before you apply.

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bankmecu goGreen Car Loan

The goGreen Car Loan from bankmecu offers minimal fees and competitive rates to help borrowers buy environmentally-friendly cars. Your account can conveniently be accessed 24 hours a day, direct salary deposits can be set up and extra payments are encouraged and never penalised. Check that you meet all eligibility requirements and have important financial and personal documents (as well as a valid driver’s licence) on hand when submitting the application for approval. Be sure to compare bankmecu’s rates to other car loan offers so that you can be confident that you’re getting the best* rate possible.

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Australian Military Bank Car Loan

Australian Military Bank lets you finance a car, motorbike or boat up to five years old with its competitive car loan. Find out about the rates and fees in this review.

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CommBank Car Loan

Getting funds for your dream car is possible with a Secured Car Loan from CommBank. With a structured repayment schedule and fixed interest rate, you can make borrowing whatever amount you choose fit with your financial situation and budget.

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loans.com.au Vehicles More than $10k Fixed

If you’re looking to buy a new or used car valued at more than $10,000, loans.com.au’s ‘Vehicles More Than $10k Fixed’ car loan is designed with you in mind. This secured loan offers a competitive fixed interest rate and the security of knowing how much your repayments will be. You can borrow amounts ranging from $10,000 to $100,000 for a period between three and five years.

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Used car buying tips

Learn what you need to know about the used car buying process, ranging from how to finance your vehicle to what you need to check on the car.

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Single parent car loans

You know what it's like. The kids need to get to school and to afternoon sport, but you car is dying. Compare a range of loans for single parents that will get you into your new wheels quicker.

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Car lease repayment calculator Australia

A car lease calculator can help you find out what your potential repayments will be before you start any loan applications through a bank or lender.

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Bank of Melbourne Secured Car Loan

When you finance a car with Bank of Melbourne, you're opting for choice. A new or used car can be financed, and you can lock in a competitive fixed or variable rate. Borrow as much as you need, up to $80,000.

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