Quote:
Originally Posted by Artemis
Quote:
Originally Posted by MadBimmeRad
In Australia, we pay multiple taxes starting from import duty, customs and excise, luxury car tax (LCT @ 33% of car value above ~$80k), goods and services tax (GST @10% of everything), and stamp duty (SD @ between 4% and 11% of total cost) and registration which is a form of road tax on top of all that.
On a M2CS fully optioned, you'll pay in excess of $60k in taxes on a car now costing $170k+.
What's criminal about that is the fact that almost none of this money/taxes levied is used on fixing the roads as it should be.
What's even more criminal is that, at each iteration, you are paying tax on tax on tax. You pay your 33% LCT and then have to pay GST (VAT in EU) on the LCT you've already paid so all of a sudden your 33% LCT is now equivalent to over 40%. Then they lump you with Stamp Duty of (in my case) 7% on the GST and the LCT.
And then after you've paid almost 40% in overall taxes, you put fuel in the car @$1.50 per litre which has almost 90¢ worth of taxes in it (for a country that produces 100% of its petroleum products).
And if you decide to drive the car at 3Km/h over the speed limit (of 50Km/h in most areas) then you pay another $489 for the privilege of having a car that has cost you $175k already.
Gotta love democracy
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But of course you can avoid the car purchase taxes by ... not buying the car, just like you can avoid paying high taxes on cigarettes by not smoking. And that's what's happening more and more.
Yes, there will always be a market for sports cars, but with prices and taxes continuing to soar, access to that market becomes financially more limited again (less attainable than before). Just like in the old days, with less specimens seen around on our streets; times when spotting a sports car was still an event rather than something mainstream/common. |
One of the best points I've seen on this topic. It is a luxury after all.
Btw - anyone paying $175kAUD in Aus for a CS got a very bad deal. I got mine a lot less than that.