LCT and GST: Taxpayer selling luxury cars in “museum” showroom loses appeal

The taxpayer’s dispute with the Commissioner of Taxation (Commissioner) concerned the taxpayer’s liability to increasing adjustments of luxury car tax (LCT)—together with certain amounts of goods and services tax (GST) input tax credit entitlements—in respect of 40 cars imported or acquired (as relevant) by the taxpayer under quote and then placed on display at the “classic car museum” owned and operated by the taxpayer.

Source: taxathand.com

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