Car tax to rise

June 15, 2011

The Legislative Council today passed the Government's proposed new rates for first-registration tax for cars.
 
They will be implemented when the Motor Vehicles (First Registration Tax) (Amendment) Bill 2011 is gazetted on June 17.
 
Under it, tax rates will be:
* 40% of the taxable value of cars for the first $150,000;
* 75% on the next $150,000;
* 100% on the next $200,000; and
* 115% on the remainder.
 
Tax concessions for environmentally-friendly petrol cars will increase from 30%, subject to a cap of $50,000 per car, to 45%, subject to a cap of $75,000 per car.