Document ID: chunk:federal_register_of_legislation:C2022C00033:section:4:p2
Version: federal_register_of_legislation:C2022C00033
Segment Type: section
Provision Reference: s 4 (pt 2/29)
Character Range: 13834–16276

or
 (b) the car was *entered for home consumption more than 2 years before the time of the supply.

5‑15  The amount of luxury car tax payable
 (1) The amount of luxury car tax payable on a *taxable supply of a luxury car is as follows:

where:
rate is the rate applicable under:
 (a) the A New Tax System (Luxury Car Tax Imposition—General) Act 1999; or
 (b) the A New Tax System (Luxury Car Tax Imposition—Customs) Act 1999; or
 (c) the A New Tax System (Luxury Car Tax Imposition—Excise) Act 1999.
 (2) However, if luxury car tax has already become payable in respect of the car, the amount of luxury car tax payable on a *taxable supply of a luxury car is:
 (a) the amount of luxury car tax on the supply (worked out in accordance with subsection (1)); minus
 (b) the sum of all luxury car tax that was payable in respect of any previous *importation or supply of the car.
The amount of luxury car tax payable on a taxable supply of a luxury car is zero if the amount in paragraph (a) is less than the amount in paragraph (b).
 (3) In determining the luxury car tax that was payable in respect of any previous *importation or supply of a *car for the purposes of paragraph (2)(b), take into account *luxury car tax adjustments (if any) other than luxury car tax adjustments made under Subdivision 15‑C (bad debts adjustments).

5‑20  The luxury car tax value of a car
 (1) In relation to the supply of a *car, the luxury car tax value is the *price of the car excluding:
 (a) any luxury car tax for that supply; and
 (b) any other *Australian tax or *Australian fee or charge, other than *GST and *customs duty;
payable on the supply.
 (1A) If the supply of the *car is *GST‑free (to an extent) because of Subdivision 38‑P of the *GST Act, the *luxury car tax value of the car includes an amount equal to the amount of *GST that was not payable because of Subdivision 38‑P.

Supply of car to associate etc.
 (2) If:
 (a) the supply of the *car is to an *associate of the supplier, or an employee or *officer of either the supplier or an associate of the supplier; and
 (b) there is no *consideration for the supply or the consideration is less than the *GST inclusive market value of the car;
the *luxury car tax value of the car is the GST inclusive market value of the car excluding any luxury car tax payable on the supply.

Additional supplies and modifications for cars
 (3) The *luxury car tax value of a *car includes the *price of