luxury car tax 2021 Luxury car tax to be axed? uk and australia talk up free-trade
Recently, there has been a petition circulating in Australia to abolish the Luxury Car Tax for electric vehicles, and we couldn't agree more. In fact, we think it's about time that the government takes positive steps towards encouraging the use of electric vehicles, rather than penalizing them. This tax has been in place for years, and it's high time that we evaluate its effectiveness and consider its impact on the environment.
Petition to abolish Australia's Luxury Car Tax for EVs, passes 7,800
The Luxury Car Tax for electric vehicles is a form of indirect taxation that is levied on vehicles that are deemed to be a luxury item. The tax is generally applied to vehicles that are priced above a certain threshold, which makes it an especially heavy burden on electric vehicles as they are generally more expensive to begin with. This tax, while designed to discourage the purchase of luxury vehicles, has had the unintended consequence of discouraging the adoption of electric vehicles, which are a vital tool in reducing our carbon footprint.
Luxury car tax thresholds - GAP Accountants
The threshold for the Luxury Car Tax in Australia is currently set at $68,740, which means that any car that is priced above this threshold is subject to an additional 33% tax. This tax is designed to target luxury vehicles, but the problem is that it affects electric vehicles disproportionately. Electric vehicles are generally more expensive than their gasoline-powered counterparts, which means that they are more likely to be subject to this tax. This is counterproductive and makes it more difficult for people to adopt electric vehicles in Australia.
Why we should abolish Luxury Car Tax for EVs?
Abolishing the Luxury Car Tax for electric vehicles makes sense for a number of reasons. Firstly, it will encourage the adoption of electric vehicles, which are essential in reducing our carbon footprint and achieving our climate goals. Secondly, it will make electric vehicles more accessible to the general public, which will ultimately lead to lower emissions and a cleaner Australia. Finally, it will provide a much-needed boost to the electric vehicle industry in Australia, which has been struggling to gain a foothold due to the high cost of entry.
Conclusion
Abolishing the Luxury Car Tax for electric vehicles is a positive step towards achieving a cleaner, more sustainable future in Australia. We urge the government to consider the impact of this tax on electric vehicle adoption and to take positive steps towards making electric vehicles more accessible to the general public.
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Luxury Car Tax To Be Axed? UK And Australia Talk Up Free-trade
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Luxury Car Tax Thresholds - Muntz Partners Business & Taxation Advisors
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Luxury Car Tax Thresholds - GAP Accountants
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Petition To Abolish Australia's Luxury Car Tax For EVs, Passes 7,800
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Luxury car tax to be axed? uk and australia talk up free-trade. Luxury tax for cars. Petition to abolish australia's luxury car tax for evs, passes 7,800
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