Motor Vehicle Registration Increase
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Revenue Measures To Support Record Transport Infrastructure
* Revenue measures will help to fund job-creating infrastructure across Victoria
* Modest rise in motor vehicle stamp duty and registration from 1 July.
* Victorian Coalition Government will ensure its transport projects are fully funded
Modest increases to motor vehicle stamp duty and registration will support
a major boost to road and transport infrastructure across Victoria,
Treasurer Michael O¹Brien announced today.
Mr. O'Brien said the Victorian Coalition Government is managing the
economy responsibly to fund new job-creating infrastructure and deliver
record investment in frontline services.
The revenue measures will be outlined in the 2014-15 Victorian budget and
will commence from 1 July 2014.
Since coming to office the Coalition Government has taken strong action
to repair Victoria¹s finances from the mess Labor left behind. Mr.O'Brien said.
Only through responsible economic management does Victoria have the
strongest government finances in Australia. We are committed to delivering
more jobs, better infrastructure and maintaining our AAA credit rating.
The Coalition Government will be delivering major new job-creating infrastructure for
Victorians in this budget. In particular, motorists and the transport industry know that
Victoria needs significant road and transport upgrades after eleven years of
Labor neglect.
The $25 fee increase for motor vehicle registration amounts to less than
50 cents a week. Mr. O'Brien said. The measures announced today will raise an
additional $136.8 Million in 2014-15 to help fund new road infrastructure and to
support opportunities for workers in the automotive industries. Further detail regarding
these initiatives will be released in the budget. Since 2011-12, around $10.6 Billion for new
roads and improvements to metropolitan and rural roads has been funded by the Coalition
Government.
The Coalition Government is fully funding its infrastructure program, unlike Labor whose
transport promises so far are unfunded by $19 Billion. Mr. O'Brien said. Victorians know
that they can¹t trust Labor with our economy or major projects, as demonstrated by
Labor's myki and desal debacles.
Increase In Rate Of Stamp Duty On Motor Vehicles
Stamp duty on the purchase of new or used motor vehicles will rise by
$0.40 per $200 or part thereof, commencing from 1 July 2014.
This means:
* The rate on motor vehicles will rise from 3.0 % to 3.2 % for new passenger cars valued
below the luxury car tax threshold.
* The rate on motor vehicles will rise from 5.0 % to 5.2 % for those valued above the threshold.
* The rate on new non-passenger cars will rise from 2.5 % to 2.7 %.
* The rate on used vehicles will rise from 4 % to 4.2 %.
These measures will have a modest impact on overall vehicle costs, for instance:
* On a new standard 4 cylinder family car, such as a Toyota Corolla Ascent, with a new
purchase value of $20,000, duty will rise by $40 from $600 to $640.
* On a used Toyota Corolla Ascent with a purchase value of $10,000, duty will rise by $20
from $400 to $420.
* On a new BMW 520i with a purchase value of $80,000, duty will increase by $160 from
$4,000 to $4,160.
Victoria will retain its competitive position by interstate standards.
Increase In Motor Vehicle Registration Fee
Light vehicle registration fees will rise by an extra $25 from 1 July 2014
to $270. A light vehicle is a car, motorcycle, motor trike or a truck that
weighs 4.5 tonnes gross vehicle mass (GVM) or less. Existing concessions
will continue to apply. Existing concessions include a 50 % discount for
pensioners, health care card holders, and primary production vehicles.
Victoria¹s $270 registration fee renewal for a standard family car will
remain lower than other states such as New South Wales and Queensland. For
example, registration fees on a 2013 Toyota Corolla Ascent are typically
$330 in New South Wales and $328.90 in Queensland.
Victoria is also competitive after taking into account compulsory third
party insurance charges with total registration renewal costs on a 2013
model Toyota Corolla Ascent around $745 in Victoria. By comparison,
typical total registration renewal costs on the same vehicle in New South
Wales and the ACT is over $900.
Legislative amendments to give effect to these changes will be introduced into Parliament
on Budget day.
On 29/04/14 10:02 AM, "DAMIEN CODOGNOTTO OAM"
d.codognotto.oam@bigpond.com wrote:
The Hon Michael O'Brien MLA
Treasurer
Victoria.
Dear Sir.
Over the Easter/ANZAC break there was talk of an increase in car registration fees of $32 per vehicle. (It was $25 for bikes the same as cars.)
However, motorcycles & scooters do not seem to have made it into the media. If there is to be an increase in motorcycle & scooter registration fees please send us the details.
Independent Riders Group (IRG) policy is that people who use more efficient forms of transport should pay less to use our roads. Motorcycles and scooters are far more efficient commuter vehicles than cars in terms of pollution, space, road damage and parking.
The 2012 Federal report on Australian Cities motorcycle & scooter stakeholders are too often left out of discussions on transport and safety issues.
Was a proposal to increase motorcycle & scooter registration fees put to the Motorcycle Advisory Group at VicRoads?
Damien Codognotto OAM
Spokesman
Independent Riders Group
Melbourne
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