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Homework answers / question archive / Scorching Motors sells a fuel-efficient luxury car to Joel for an 'all up' price of $106500, including GST (10%) and Luxury Car Tax (33%)
Scorching Motors sells a fuel-efficient luxury car to Joel for an 'all up' price of $106500, including GST (10%) and Luxury Car Tax (33%). This price does not include stamp duty, registration or compulsory third party insurance.
Calculate:
1. The LCT (using the 2018-19 threshold amount)
2. The GST Scorching Motors must pay on this sale.
(all answers to 2 decimal places)
Tip: If you cannot find the threshold for the 2018-19 financial year in your textbook, visit www.ato.gov.au and search for 'LCT threshold'.
Required to calculate :
LCT = |
Answer for part 1
|
GST = |
Answer for part 2 |
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