It’s properly documented that the 33 % luxurious vehicle tax fails to goal mainly luxurious vehicles with the principal contributor the paintings horse Toyota LandCruiser Prado, a fave with farmers and recreational off-roaders alike – a tax on a tax because it’s carried out on top of the ten% GST better fee. So the statement earlier this week with the aid of NSW Opposition Leader Michael Daley that he might introduce a brand new so-called wealth tax on boats and cars got here as a marvel if elected. The automobile industry is already struggling because of several things – modifications to how they do finance and a tightening credit market, the drought in u. S.
And regional regions and a general lack of patron confidence in advance of elections. The closing element it needs is a so-referred to as wealth tax to now not simplest impact luxurious automobile customers however positioned more pressure on the agricultural network. Michael Daley could be very poorly advised to introduce this type of country wealth tax. He declares that “it became only fair that the pinnacle quit of the city pays more” is misguided because it will now not handiest affect the small percentage of vehicle owners that drive Maserati’s and different upper luxurious models that he claims but put a large stress on the industry currently adjusting to great exchange. Many local dealers are suffering to make earnings, and this additional luxury tax will affect the jobs of many providers and guide employees inside the technique. New car income in N.S.W. Declined by using 6 consistent with cent ultimate yr, three times greater than another state. I’m David Berthon