Commonwealth Consolidated Acts

A NEW TAX SYSTEM (LUXURY CAR TAX) ACT 1999 - SECT 7.15

             (1)  The amount of luxury car tax payable on a * taxable importation of a luxury car is as follows:

where:

"luxury car tax value" of the * car is the sum of:

                     (a)  the customs value (for the purposes of Division 2 of Part VIII of the Customs Act 1901 ) of the car and of any * car parts, accessories or attachments covered by subsection 7‑10(2); and

                     (b)  the amount paid or payable:

                              (i)  for the * international transport of the car and any car parts, accessories or attachments covered by subsection 7‑10(2) to their * place of consignment in Australia; and

                             (ii)  to insure the car and any car parts, accessories or attachments covered by subsection 7‑10(2) for that transport;

                            to the extent that the amount is not already included under paragraph (a); and

                     (c)  any * customs duty payable in respect of the * importation of the car and of any car parts, accessories or attachments covered by subsection 7‑10(2); and

                     (d)  any * GST payable in respect of the importation of the car and of any car parts, accessories or attachments covered by subsection 7‑10(2); and

                     (e)  if the * importation of the car is * GST‑free (to an extent) because of paragraph 13‑10(b) of the * GST Act in conjunction with Subdivision 38‑P of that Act--an amount equal to the amount of * GST that was not payable because of paragraph 13‑10(b) and Subdivision 38‑P.

"rate" is the rate applicable under:

                     (a)  the A New Tax System (Luxury Car Tax Imposition--General) Act 1999 ; or

                     (b)  the A New Tax System (Luxury Car Tax Imposition--Customs) Act 1999 ; or

                     (c)  the A New Tax System (Luxury Car Tax Imposition--Excise) Act 1999 .

             (2)  The Commissioner may, in writing:

                     (a)  determine the way in which the amount paid or payable for a specified kind of transport or insurance is to be worked out for the purposes of paragraph (b) of the definition of luxury car tax value in subsection (1); and

                     (b)  in relation to importations of a specified kind or importations to which specified circumstances apply, determine that the amount paid or payable for a specified kind of transport or insurance is taken, for the purposes of that paragraph, to be zero.