Australia news live: luxury car tax change could seal EU trade deal; far north Queensland braces for severe weather
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14.56 EST Australia to change luxury car tax to close EU trade deal Tom McIlroy Australia looks set to make changes to the luxury car tax as part of concessions to secure a free trade deal with the European Union. Both sides have been talking up significant progress on the negotiations and a visit to Australia by the European Commission president, Ursula von der Leyen , could be announced within days. The luxury car tax has been a sticking point and Guardian Australia has been told the current $80,000 threshold could be increased to at least $100,000, in a concession to European manufacturers including BMW and Mercedes-Benz. Cars with a value over the LCT threshold attract an LCT rate of 33%. The treasurer, Jim Chalmers , confirmed the government had indicated a willingness to include the luxury car tax thresholds in the FTA discussions. “We are trying to finalise that EU free trade deal as soon as we can,” he said, paying tribute to the trade minister, Don Farrell, and the foreign affairs minister, Penny Wong.
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