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New Luxury Car Tax to be introduced in Victoria from July 2019

The car industry has slammed a proposal by the Victorian Government to slug vehicles priced over $100,000 with an additional tax – on top of the 10 per cent GST on the total cost and 33 per cent Luxury Car Tax already charged on every dollar above $66,331.

The “tax on a tax on a tax” is expected to be announced Monday as part of the Victorian Government’s state budget and could come into force in a matter of weeks, from the beginning of the new financial year starting July 1.

We advise for anyone in the market for a new luxury vehicle to take advantage of our EOFY sales and also beat the new tax by purchasing your next luxury vehicle from Penfold Motors by June 30.

Contact either of our luxury dealerships below, the best time is now to save on your next luxury vehicle.