Australia Tax Agency Announces 2026-27 Car Tax Thresholds

The Australian Taxation Office June 9 announced the tax thresholds on cars used for business purposes for the tax year 2026-27. The announcement includes: 1) the maximum depreciable value of A$69,883 (US$49,315) for cars first used or leased for business purposes during the 2026-27 tax year; 2) the maximum GST credit limit of A$6,353 (US$4,483) for non-luxury cars; 3) the luxury car tax (LCT) thresholds of A$91,661 (US$64,683) for fuel-efficient vehicles and A$80,809 (US$57,025) for all other vehicles; and 4) clarification that cars used both for business and private purposes are deductible only on the percentage of business use, as ...