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How do calculate the luxury car tax amount

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Reference no: EM132645954

Extravagance Limos Pty Ltd is in the business of selling motor vehicles. A luxury motor vehicle is made available for sale and is priced initially at $99,000 (GST Inclusive).

Question 1: Based on the 2019/2020 luxury car tax threshold of $67,525 and LCT rate of 33% calculate the Luxury Car Tax (LCT) amount.

Reference no: EM132645954

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