LCT being delayed

[Kizzt]

Its complete disincentive to achieve.
Tall poppy syndrome stinks.

Not enough is done to help people get into their own house, let alone get into anything fancy, and now the dream of a really nice car is being pulled further out of reach.

I think it is intended that everyone drive a commodore, live on a quarter acre block in the outer burbs and drink a slab of VB every weekend and that should be good enough for everyone.

So much for the lucky country my grandparents came to 60 years ago.

But that aside, my car's delivery has been pushed back to what could be Mid-July - i sure hope the senatorial enquiry has a /nice long/ look at the laws before they get fumbled through...

[Guran]

Yeh, I hear what you're saying Kizzt. But if you have a closer look at new car prices over the years, you'll find that they haven't really changed all that much in the last 10-15 years! Compare these examples from the mid-1990s versus now:

$295k for a Porsche 911 Turbo versus ~$327k now (+10%)
$147k for a BMW 540i versus $165k for BMW 550i now (+12%)
$83k for a BMW 328i versus $76k for a BMW 325i now (-9%)
$15k for a Hyundai Excel versus $15k for a Hyundai Getz (0%)

It's hard to think of any other large capital item that has shown less increase in price over the same period. Most of this can be attributed to the incremental withdrawal of import duty. So let's not worry to much about an extra thousand for a car that had those duty changes not occurred, we would now be paying well over $100k for.

Please understand that I'm not a supporter of LCT ... I think it stinks too. But let's face the facts that the evils of import duty only 10-15 years ago were far in excess of the LCT we have to face today.

[amk2912]

Here's something to really p on your day. My 135i is due July so I was quite happy to hear of the LCT delay.

Dealer tells me today there is talk of backdating the LCT rise back to 1 July, when it finally passes the Senate.

[spdrcr]

This came across my desk this morning - LCT to be applied retrospectively. Tough break for those guys who thought they might sneak through...

[amk2912]

Originally Posted by spdrcr

This came across my desk this morning - LCT to be applied retrospectively. Tough break for those guys who thought they might sneak through...

The mangy #@%*&!! b*st*rds!

Tell you what...why don't they widen the gap between the goal posts in AFL and the go back an recalculate the outcome of every Grand Final since 2000....who knows. maybe the Magpies may have won one!!!

[SimonB]

I heard this on the radio today and think it's just despicable and, in my opinion, just goes to show that it's someones personal agenda.

To be honest, the cost really doesn't bother me (you know what I mean), it's just not fair.

Bastards

[Guran]

What a dog's breakfast the govt is making of this. Here's what the dealer has to do (my interpretation of the PDF above):

1) They charge their customers extra now "just in case" the tax increase is passed. Meanwhile the customer is out of pocket until a decision is made.

OR

2) They don't charge the customers and have to chase them up later to get the extra money they have to send to the tax office.

Pity the poor dealers who have to act as tax collector in all this mess.

[shauno]

Your right mate its a total dogs breakfast. I said this on another thread. I work my arse off to earn good money in the offshore oil and gas industry and I like to spend some of my hard earned on decent cars. I am sick and tired of all these extra taxes why the hell should we be paying 33% extra tax on a car worth more then 57k. The govt can get stuffed I wont be buying any new cars with a tax like that just on principal. I'll stay with the 2nd hand market. Looking at an E46 M3 cs now.

[WAY]

I agree with all of you. This is a complete mess. There is a reason why I didn't and will never vote labour. They just don't know what they are doing.

[Timbo]

We should rename the thread "Australian politics - what it means to a 1addict"

[black135]

The legislation, see link below, states that the tax begins when the legislation is approved. It doesn't talk about being retrospective. Are there any tax professionals who can clarify this?

http://parlinfoweb.aph.gov.au/piweb/...d/26050800.pdf

[AussieRacer]

When laws are enacted, and when laws are passed by parliament can be different dates.

You can pass a law/bill on date X, and then when in enacted by the GG he can specify the date of enactment, which can be before date X.

Howard did this a number of times when announcing budgets that included tax cuts. Budget was passed post July, but tax cuts took effect from 1 July caused law was enacted to backdate.

Now enough politics, and lets get back to cars.....

[WAY]

One of my good friends is picking up his C63. Dealer told him not to worry about picking up his car in a hurry and he can just do it next week as the LCT is not going to come into effect. I showed him the PDF above and he is calling the dealer tomorrow to organise payment by Monday haha.

[BMWDave]

Yeah, as I said in another post, i've fully paid for my 135i which i'm expecting to pick up 2 days into the new financial year. The car is in Oz but hasn't made it to the dealer. It has been complied though and the dealer has all the details required to get it registered so I was able to complete my paperwork and "take delivery" as far as the govt is concerned. If it turns out they can't retrospectively apply the tax, i've lost a week in rego/insurance/finance. Worth the risk to avoid the extra $$.

[Kris]

Thats what you get for voting labour people Their typical penalise the wealthy mentality pisses me off.