Car industry slams Victoria’s proposed tax on vehicles over $100,000

The car industry has slammed a proposal by the Victorian Government to slug vehicles priced over $100,000 with an additional tax – on top of the 10 per cent GST on the total cost and 33 per cent Luxury Car Tax already charged on every dollar above $66,331. The “tax on a tax on a tax” is expected to be announced Monday as part of the Victorian Government’s state budget and could come into force in a matter of weeks, from the beginning of the new financial year starting July 1.