The Federal Chamber of Automotive Industries (FCAI) today expressed deep concern at the Queensland Labor Government’s announcement that it would introduce an additional $2 per $100 of dutiable value added to the transfer duty costs of buying new cars worth more than $100,000.
The Chief Executive of the FCAI, Tony Weber, said the news came as a surprise to the Australian automotive industry.
“There was no consultation with the FCAI nor its members on the detail of this announcement,” he said.
Around 20 per cent of the price of a new motor vehicle sold in Australia today is made up of taxes and other charges.
“Governments seem to think of motor vehicles as the golden goose. The fact is motor vehicles are already heavily taxed in Australia. The imposition of GST, stamp duties, registration fees and the ongoing related taxes including fuel excise, are all hitting consumers hard.”
“Depending on the vehicle, a consumer can also get hit with the Federal Government’s pernicious 33 per cent Luxury Car Tax.”
“This announcement compounds that problem even further because it will impose a tax on top of the Federal Government’s Luxury Car Tax.”
The FCAI calls on the Queensland Labor Government to review this costing announcement and work in consultation with the automotive industry.