Australia’s new Labor government plans to hike the tax on luxury cars to 33% from 25% in the country’s first tax increase of any kind in more than 12 years. The new levy affects vehicles costing more than A$57,000 ($53,947). Federal Treasurer Wayne Swan says imported cars mostly will feel the effect. For example, an extra A$2,600 ($2,461) in tax will be added to the A$105,000 ($99,398) Jaguar S-Type and A$30,000 ($28,407) to the price of a A$417,000 ($394,869) Ferrari. An increase on ...
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