2023: Australian taxpayers lose $250m due to a loophole exempting large utes from Luxury Car Tax.
An Australian tax loophole subsidizes large utes such as Ram and Chevrolet, costing taxpayers $250m in 2023. These vehicles are exempt from the Luxury Car Tax, which other imported cars above $81,000 are subject to. This exemption applies to any vehicle that can carry twice its payload in people. The Australian public is losing out on significant revenue due to this tax break on 'big, dumb' utes.
July 21, 2024
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