I doubt LCT now applies

Originally Posted By ATO
When does LCT not apply to a supply of a luxury car?

The supply of a luxury car is not subject to LCT if any of the following apply:
* the car is more than two years old – that is, it was manufactured in Australia more than two years before the supply, or it was imported and entered for home consumption more than two years before the supply

In any case if it was imported less than two years ago the previously paid LCT is deduced from the LCT obligation.

See http://www.ato.gov.au/Business/Bus/Luxury-car-tax/?page=3

Peter

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