Company TaxLearn more
AADA Position The AADA urges all Parliamentarians to support the proposed changes to Company Tax contained in the Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill that is currently before the Parliament. Background The Government’s Enterprise Tax Plan is to progressively reduce the corporate tax rate from 30 per cent to 25 per centLearn more
Luxury Car TaxLearn more
The LCT rate of 33 per cent applies to the GST-exclusive value of the car (including accessories) above the LCT threshold of $64,132 for regular cars and $75,526 for fuel efficient vehicles. Revenue for 2016-17 was $664 million and is projected to rise to $720 million in 2020-21.
The AADA along with consumer and other industry groups have long called for the abolition of the LCT, as it is an inefficient tax which discourages the uptake of safer and environmentally friendly vehicles. Furthermore, it is a non-tariff trade barrier which undermines our trading efforts with key allies.Learn more
Passenger Vehicle TariffLearn more
The passenger vehicle tariff is a 5 per cent duty on vehicles entering Australia from a non- Free Trade Agreement (FTA) countries. While Australia has concluded FTAs with major source countries such as Thailand, Japan and Korea, hundreds of thousands of vehicles from Europe, the United Kingdom, South Africa and elsewhere still incur the tariff. Passenger vehicle tariff revenue was $540 million in 2016-17.
The cessation of local vehicle manufacturing in Australia presents an opportunity to re-evaluate the way passenger vehicles are taxed. Removing the passenger vehicle tariff can lead to significant reductions for consumers purchasing new cars.Learn more