Following a meeting with the Victorian Treasurer's Senior Advisor, VACC can confirm the following points regarding the progress of the new super-luxury duty:
- The State Taxations Amendment Bill passed through the Legislative Council on 6 June 2019 (view minutes)
- The Bill now awaits the Governor's Assent, after which it will become law.
Tim Pallas' speech can now be viewed publically.
In the immediate short-term, VACC is focussing on securing exemption from the new rate of duty for pre-existing/pre-ordered deals that are set to be delivered after 30 June 2019.
The Government is contemplating a proposal put forward by VACC, created using member-supplied data. Information gathered from the recent VACC survey further strengthened the proposal.
At a minimum, VACC has requested an exemption for pre-existing orders executed before 27 May (the day of the budget release).
Next steps will need to be discussed and ratified by the Victorian Automobile Dealers Association (VADA) and Used Car Traders Division (UCTD).
It is understood that Treasurer Pallas will meet with a delegation of new and used car dealers at VACC House shortly. This meeting will not take place on Tuesday, 11 June as previously proposed.
VACC will update members on meeting details as soon as a time is confirmed.