New claim thresholds for cars from 1 July 2018

When it comes to cars, there are limits on how much you can claim as tax deduction and GST credit.

From 1 July 2018, the following thresholds will apply (subject to general motor vehicle tax deduction rules):

Income tax depreciation: $57,581

GST input tax credit: $5,234.64

Luxury car tax: $66,331

Fuel efficient luxury cars: $75,526