Luxury Car Tax Break
Luxury Car Tax is payable by businesses which sell or import luxury cars, where the value of the car is above AUD$64,132, or AUD$75,526 for fuel-efficient cars with a fuel consumption of less than 7L per 100 km. Model S and Model X qualify for the upper amount, reducing the overall amount of Luxury Car Tax payable, reducing the overall cost.
Stamp Duty Exemption in the Australian Capital Territory
Under the Green Vehicle Scheme, all newly registered rating 'A' vehicles are exempt from paying stamp duty in the Australian Capital Territory. New Model S and Model X qualify, being a pure electric vehicles, thus reducing the overall on-road cost. To take advantage of the incentive you must have the right to register in the ACT (eg. hold an ACT Drivers Licence). Eligibility can be confirmed with the Roads and Traffic Authority www.rego.act.gov.au. Please note that previously registered vehicles are not eligible for the exemption.
Your eligibility for income tax related savings depends on your personal tax situation. We recommend speaking with a tax professional for guidance.