is there a luxury tax on cars

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10% of the original price

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  • How much tax do you pay on a luxury car?

  • 10% of the full value of the luxury car, boat or personal aircraft. The tax would apply at the point of purchase if the final sale price paid by a consumer (not including the GST/HST or provincial sales tax) is above the $100,000 or $250,000 price threshold.

  • What states have luxury car taxes?

  • Other states that apply taxes on the value of the car include Minnesota, California, Wyoming and Louisiana. A luxury car tax is a tax applied to the purchase of automobiles whose cost exceeds a certain threshold.

  • What is the ATO鈥檚 luxury car tax?

  • According to the ATO, the luxury car tax is set at 33% of the value of the vehicle above the luxury car threshold. For the 2019/2020 financial year, the thresholds have been set at $75,526 for 鈥榝uel-efficient vehicles鈥?and $67,525 for all other vehicles.

  • What vehicles are subject to the New York luxury car tax?

  • In the 2013 model year, the only vehicles subject to the tax are large-engine luxury vehicles, performance cars and sports cars. A luxury car tax is a tax applied to the purchase of automobiles whose cost exceeds a certain threshold.

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