Document ID: chunk:federal_register_of_legislation:C2009C00031:clause:1_6
Version: federal_register_of_legislation:C2009C00031
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 2140–3385

6  At the end of section 25‑1
Add:

Luxury car tax threshold—fuel efficient cars

 (4) If the *car has a fuel consumption not exceeding 7 litres per 100 kilometres as a combined rating under vehicle standards in force under section 7 of the Motor Vehicle Standards Act 1989, the luxury car tax threshold is the *fuel‑efficient car limit for the year in which the supply of the car occurred or the car was *entered for home consumption.

 (5) The fuel‑efficient car limit for the 2008‑09 *financial year is $75,000. The limit is indexed annually using Subdivision 960‑M of the *ITAA 1997.

 (6) In indexing the *fuel‑efficient car limit, Subdivision 960‑M of the *ITAA 1997 applies as if:
 (a) the table in section 960‑265 of that Act included an item referring to the fuel‑efficient car limit and to subsection (5) of this section; and
 (b) the reference in subsection 960‑270(1) of that Act to provisions of that Act included a reference to subsection (5) of this section; and
 (c) section 960‑270 of that Act applied, and section 960‑285 of that Act did not apply, in relation to the fuel‑efficient car limit; and
 (d) the reference in subsection 960‑280(2) of that Act to the car limit included a reference to the fuel‑efficient car limit.