Desert Traveller
Joined: 06 Aug 2006
Location: South East Queensland
Posts: 298
 
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Red Disco,
Don't know how you came up with +$4k.
D3 SE TDV6 with some extras. $80k-$57k=$23k (subject to luxury car tax, not the whole value) LCT excludes rego and on-road costs for new vehicles.
An extra $1800.
Source of info: ATO website.
I don't like any LCT, but have been forced to pay it a couple of times.  06 TDV6 SE with Extras
VW Eos TDI
Previously 01 TD5 and 94 TDI
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 Sun May 11 2008 11:31am |
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BlackPerth
Joined: 23 Sep 2007
Location: Perth
Posts: 217
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It really is beyond me how $57,000 is a "Luxury" car when a base model "Falcodore" is $35,000. What a crock. And as for fuel prices - cant you just hear the far Left wowsers (drivng Govt subsidised Falcodores probably) complaining about "gas guzzling" 4Wd's? yeah, well whose car averaged around 10l/100km's last tank...sure wasnt the 5 year old Commordore or the Pollies chauffeur driven Holden Caprice....  2006 SE TDV6, remapped 185Kw, 545NM; Java / black leather; LR roof DVD; LR Expedition rack / LR ladder; LR side steps; LR light guards; OL drawer system; Elec trailer brake controller; 3 extra 12V hella sockets; LR raised air intake; ARB bar; Lightforce spotties; OL rear wheel carrier; Long Ranger 115 litre sub-tank; GME 3440 UHF; TPMS; Traxide/Optima yellow / National Luna dual battery monitor; 6 x 18inch rims with General Grabber AT2's; Mitchell Bros tow hitch; OBIES rear window protector.
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| Sun May 11 2008 2:56pm |
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drivesafe
Joined: 23 Feb 2006
Location: Gold Coast, Australia
Posts: 257
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Well I’m all for the increase in luxury car tax BUT I do think the threshold should be set no lower than $80k. This would give larger families that need people movers a fairer chance.
Luxury taxes when applied fairly, are a much better way to control inflation than simply increasing interest rates.
Why on earth the brain dead Reserve Bank Board thinks this is a fair way to control inflation when it hurts the battlers the most and the rich the least, especially when the spending habits of the rich is one of the prime reasons for run away inflation.
To back this, my primary business is manufacturing and supplying specialised equipment to RV manufacturers, while internet sales account for only a small portion of my turnover.
Since the last few increases in interest rates, I can not keep up with the additional orders from all my RV customers.
This may seem strange but as the bulk of high end RV buyers are self funding retirees, their fortunes have grown with the rise in interest rates which means the higher interest rates for them is actually fueling higher inflation.
As above, we need a much fairer way to control inflation and a better set up luxury tax is one way to go.
Just my 2c worth. 2007 TDV8 RR Lux + 2005 D3 SE V6 Petrol
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| Sun May 11 2008 10:45pm |
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simon
Joined: 11 Jan 2005
Location: Do you really need to know ?
Posts: 14397
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catweasel wrote:simon wrote:the sunshine crew
Thought you'd like that.
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| Sun May 11 2008 11:14pm |
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Neil Pettersen
Joined: 23 Nov 2007
Location: Twofers at the Coffee Club ..ummm
Posts: 517
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You make interesting points Drivesafe.
LCT is political rubbish really. So few of us pay it that the revenue is peanuts...it's a "Button" relic.
If the Gov stopped taxing interest at marginal rates.....or no tax to K5 interest pa. more would save.
Increase tax free threshold to K20 .......K6 is ridiculous for low income and part time...they're desperate..FCOL !
Abolish the States right to raise revenue...one Gov is enough for that function......failing that ;
Abolish Stamp duty on primary residential property.....first time buyers haven't got a hope
competing with tax deductable investors........it's bloody criminal and it's got to stop !
Prime Minister Howard just didn't get to grips with enough issues in all those years....alot more could have happened......but you can forget it all now because this mob are hopeless...they didn't say bu  er all
about Queensland Land Clearing that Beattie could have stopped....and they wont be funding immediate
diesel engine availability for Aus produced cars.......they're just in the business of taxing us and blowing it.
They are not the "Tree Huggers"..... that's an urban myth for idiots to believe.
They'll get at least 2 Terms and create mayhem...Welcome to "Keating World II "......now showing. Disco3.co.uk ; We all know nothing about something
Who's lookin'
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| Sun May 11 2008 11:31pm |
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drivesafe
Joined: 23 Feb 2006
Location: Gold Coast, Australia
Posts: 257
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Hi Neil, completely agree with you that a Luxury Car Tax is not the answer, BY ITSELF, I do believe a Luxury tax on ALL high end products is one way to help reduce part of the inflation problem.
Those that can afford these products are still going to by them even with a higher tax but make the tax much higher and on a sliding scale.
For instance, LCT should not come into play on vehicles under $80k or even $100k but then it should be even high on vehicles of $150k and a much higher top rate on vehicles over $200k.
This should be applied to all goods and would start to get the rich to pay tax at a level the rest of us have to pay.
When you have someone like Packer not paying 1 cent in tax while the ATO reckoned he should have been paying $20m a year, proves high income tax does not work so put in place taxes the rich can’t get around.
A luxury tax is not going to solve the inflation problem but neither is the interest rate hikes. 2007 TDV8 RR Lux + 2005 D3 SE V6 Petrol
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| Mon May 12 2008 12:30am |
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Drive cosy
Joined: 10 Nov 2007
Location: Sydney
Posts: 30
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The jealousy tax is an easy one for them to sell to the masses, even though many of those same people won't even realise they will get slugged next time they go and buy a new car. The $57k figure is ridiculously low and hasn't increased in several years.
Another point is that on a car that just reaches the luxury tax limit ($62836 RRP) you are already paying about 17% or around $11000 in import duty, taxes and stamp duty. Even more for a sedan.
I'm more concerned about the possible changes in the budget to FBT, salary sacrificing and leasing. 
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| Mon May 12 2008 1:09am |
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norto
Joined: 10 Apr 2006
Location: batemans bay
Posts: 993
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But wait there more dont send any money..........
here comes "Death Duties"
Why doesnt every adult pay the same tax. The rich are
probably a less burden on society than the poor.
And im certainly not rich Peter
"Global Warming" The religion of the left
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| Mon May 12 2008 1:40am |
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norto
Joined: 10 Apr 2006
Location: batemans bay
Posts: 993
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Theres plenty more to come.......
unfortunately many of us forget the years before 96.
They have an idealogy that must be served. Peter
"Global Warming" The religion of the left
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| Mon May 12 2008 2:40am |
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Neil Pettersen
Joined: 23 Nov 2007
Location: Twofers at the Coffee Club ..ummm
Posts: 517
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norto wrote:......... here comes "Death Duties"
Wait until that one hits the fan Norto !
Bring back Sir Joh.......Queensland was inexpensive and we had free hospitals before Medicare
was invented...........My beloved State is being ruined by a succession of State political incompetents
who wouldn't recognise infrastructure planning if it kicked them up the @rse.  Disco3.co.uk ; We all know nothing about something
Who's lookin'
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| Mon May 12 2008 2:50am |
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norto
Joined: 10 Apr 2006
Location: batemans bay
Posts: 993
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Now Now...
Take a week off and come to Wilpena Pound..........its not far  Peter
"Global Warming" The religion of the left
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| Mon May 12 2008 2:54am |
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MJC73
Joined: 10 Jan 2006
Location: Gold Coast
Posts: 80
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Its time to batten down the hatches as I think we're in for a bumpy ride over the next few Rudd governments (and its unfortunately going to take the Liberals that long to form an effective opposition).
The reason its going to be bumpy is not just the left leaning policies of the incumbent government although they rarely provide any remedies to negative economic outcomes. The real reason its going to be tough is that China is no longer exporting deflation as it has done for the past 10 years (meaning that your flat screen tele no longer gets cheaper every year) since they are at the mercy of rapidly increasing input prices and increasing domestic capacity constraints. What this means for us is that for the RBA to keep inflation in their target range they have to squeeze the domestic side of consumption – something that the RBA in John Howard’s time didnt have to do as higher domestic wages and price rises were offset by cheaper imports – those days are over and we all have to get used to it (unless you’re the US in which case you say ‘ inflation were going to have negative real interest rates and damn the inflationary consequences’).
The upshot of this is medium to long term higher interest rates and higher inflation – what annoys me is that the baby boomers win again – they get all the property price appreciation, bail out to go travelling around Oz with a big pile of cash which is now earning excellent interest income thanks to the RBA. When do we non-boomers get a look into this game – its enough to make you want to enter politics….
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| Mon May 12 2008 3:06am |
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norto
Joined: 10 Apr 2006
Location: batemans bay
Posts: 993
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MJC73 wrote:The real reason its going to be tough is that China is no longer exporting deflation as it has done for the past 10 years….
You make a good point
Also the rising cost of fuel is going to put a lot of
upward pressure on inflation
In 1999, BIS Shrapnel predicted interest rates would be 10% by 2006
They werent far out Peter
"Global Warming" The religion of the left
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| Mon May 12 2008 3:15am |
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, but it was behind glass 
