In the 2019-20 Budget, the Government announced that it would provide further relief to farmers and tourism operators by amending the luxury car tax arrangements.
The Government has released exposure draft legislation and explanatory material for amendments that would give effect to this Budget announcement.
Under these new arrangements, eligible primary producers and tourism operators will be able to apply for a refund of any luxury car tax paid, up to a maximum of $10,000, for vehicles acquired on or after 1 July 2019.
Currently, primary producers and tourism operators may be eligible for a partial refund of any luxury car tax paid on eligible four wheel or all wheel drive cars, up to a maximum of $3,000. The eligibility criteria and types of vehicles eligible for the current partial refund will remain unchanged under the new arrangements.
Public consultation on the exposure draft legislation and explanatory material will close on Wednesday, 14 August 2019.