Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

I am advised that the luxury car tax applies to vehicles that cost more than $57,123. I am further advised that it was introduced by the previous government, in 2000. It is quite clear that the opposition now wishes to stand up for lower taxes on luxury cars rather than for lower interest rates for working families. We do not think it is unreasonable for people who have done well in recent years, particularly those in the top income brackets, to pay just a little bit more for a luxury car. This is a balanced measure that makes the tax system fairer by requiring a greater contribution from those with the greatest ability to pay. Those opposite have given us a timely reminder— (Time expired).