Wheels

Luxury car tax to be abolished?

TWENTY YEARS after it was first introduced, signs are starting to appear that the Luxury Car Tax (LCT) is reaching the end of the road.

As part of trade negotiations with the UK post-Brexit for both nations to phase out taxes on imports, it’s thought Australia’s whopping 33 percent tax levied on cars over a certain cost threshold could steadily disappear over the next 15 years.

In recent weeks, the UK has put an offer on the

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