Our Recent Blogs
Changes to Car Thresholds from 1 July 2025
The car limit for the 2026 income year is $69,674. This is the highest value that a taxpayer can use to calculate depreciation on a car where they use the car for work or business purposes and they first use or lease the car in the 2026 income year.
Luxury Car Tax: Determining a vehicle’s principal purpose.
The ATO recently explained how to determine the principal purpose of a car for ‘luxury car tax’ (‘LCT’) purposes (since LCT is not payable on the supply or importation of cars whose principal purpose is the carriage of goods rather than passengers).
Electric car taxes and rebates revealed.
The Federal Government recently introduced the Treasury Laws Amendments (Electric Car Discount) Bill 2022, which will reduce the upfront and ownership cost of electric vehicles (“EVs”) so that more families who want them, can afford them. If enacted it not only be good for motorists, employees and their workers and most of all for climate action.