Gross Vehicle Cost

When a quote is accepted the Quotes / Finance Total On Road Price "Total" is copied into this field.

You can validate the value of this field if is set to 'yes'.

The validation logic is as follows:

SET @contract_id = '100000';

SELECT
    @fm_contract_finance_vehicle_purchase_gross_validate_flag :=
        SUBSTR(
            t3.value,
            LOCATE('"', t3.value) + 1,
            (
                CHAR_LENGTH(t3.value)
                - LOCATE('"', REVERSE(t3.value))
                - LOCATE('"', t3.value)
            )
        )
FROM gb_controls t3
WHERE t3.name = 'fm_contract_finance_vehicle_purchase_gross_validate_flag';

SELECT
    @amount_financed_tolerance :=
        MID(
            t2.value,
            LOCATE('"', t2.value) + 1,
            (LENGTH(t2.value) - LOCATE('";', t2.value))
        )
FROM gb_controls t2
WHERE t2.name = 'amount_financed_tolerance';

SELECT
    @finance_vehicle_purchase_gross := ABS(finance_vehicle_purchase_gross)
FROM fm_contracts
WHERE contract_id = @contract_id;

SELECT
    @vehicle_purchase_net_entered_in_contract := 50000.00 - 5000.00;

SELECT
    @vehicle_purchase_net_calculated :=
        ABS(
            amount_financed
            - establishment_fee
            - redundancy_collected
            - gap_insurance_collected
            - total_brokerage
        )
FROM fm_contracts
WHERE contract_id = @contract_id;

SELECT
    @vehicle_purchase_net_difference :=
        ABS(
            @vehicle_purchase_net_entered_in_contract
            - @vehicle_purchase_net_calculated
        );

SELECT
    amount_financed,
    establishment_fee,
    redundancy_collected,
    gap_insurance_collected,
    total_brokerage
FROM fm_contracts
WHERE contract_id = @contract_id;

SELECT
    @contract_id,
    @fm_contract_finance_vehicle_purchase_gross_validate_flag,
    @vehicle_purchase_net_entered_in_contract,
    @finance_vehicle_purchase_gross AS 'Value saved in Contract',
    @vehicle_purchase_net_calculated,
    @vehicle_purchase_net_difference,
    @amount_financed_tolerance AS amount_financed_tolerance,
    IF(
        @fm_contract_finance_vehicle_purchase_gross_validate_flag = 'no'
        OR @finance_vehicle_purchase_gross > 0,
        '(Not Validated)',
        IF(
            @vehicle_purchase_net_difference > @amount_financed_tolerance,
            'Gross Vehicle Cost/Claimable GST is incorrect. Please recheck.',
            '(No Error)'
        )
    ) AS 'validation error';

Please also refer to the Gross Vehicle Cost model.

Luxury Car Tax

Quotes / Vehicle "Luxury Car Tax" is calculated when a quote is created or a re-calculation is trigged by changes. It becomes part of the vehicle's "Total On Road Price" and "FBT Value". You can edit the amount and it can be locked to prevent re-calculation.

The calculation is only done if both of the following conditions are met:

  • 'New' or 'Demonstrator' is chosen for the "New or Used" field list.

  • The selected Vehicle Type is not classified as a commercial vehicle (see notes below).

To understand the controls and the calculation in detail, open the Luxury Car Tax Calculations spreadsheet.

Also visit the LCT Limits page to see the current control values that are used in the calculations.

Luxury Car Tax is different than Luxury Car Charge. For details about Luxury Car Charge please visit the Luxury Car Charge page.

Base Price

The Base Price applied in the LCT calculation is affected by a a number of variables. Open the Luxury Car Tax Calculations spreadsheet to trace through the variables that apply.

The calculated Base Price is also a factor in determining if a vehicle is eligible to use the FBT Treatment Type of 'EV Exempt - Reportable'.

A clarification about the application of dealer discounts was made by the ATO and Supreme court late 2013 / early 2014. This ruling excludes dealer discounts from the base value when calculating LCT.

Fleet Discount, Confidential Rebate, Dealer Rebate and Bonus values do not contribute to the LCT Base Price calculation.

Controls

Two controls enable you to set a preferences for calculating the LCT Base Price.

  • Choose if "Dealer Discount" is included or excluded from the LCT Base Price.

  • Choose if Aftermarket Options are included or excluded from the LCT Base Price.

How to Identify a Commercial Vehicle

Commercial vehicles have the value of 'LC' in the "Vehicle Type" field of their variant profile record. You can find this in the Quotes / Vehicle Specification section.

This is stored in the system as and is also used in the calculation for Purc. Stamp Duty for NSW.

Are Commercial Vehicles Exempt?

Variants are linked to a table that identifies if they are exempt or not. Scheduled updates create these records based on standard business rules.

Variants with a vehicle type of 'LC' are normally set to be exempt. I.e. = 'yes'.

This flag is also used in the calculation of applicable Luxury Car Charge on the quote PDF.

If you want to change the update rules or the setting for a particular variant, contact your Account Manager.

Vehicle Type Classification

The classification of the "Vehicle Type" of each variant by your data provider may not be consistent here. E.g. Toyota Land cruisers can sometimes be mis-classified.

Note that when importing new variant data the following list prices business rules are applied:

  • RedBook import: listpricenet and listpricegst are provided by RedBook.

  • Glasses import: listpricegross is supplied by Glasses. Listpricenet and listpricegst are calculated using the gb_controls above. Note that weekly Glasses data files do no include the fuel consumption rates so only the non fuel efficient vehicle calculation can be done in this case. Monthly data files include the fuel consumption rates allowing the fuel efficient calculation to be performed.

Service Profile Creation and Timing

  • If a quote is created before the vehicle profile is created, then LCT will be calculated. I.e. is set to 'no' because there was no variant profile to "tell" it otherwise.

  • If a quote's effective date is before the vehicle profile creation date, then LCT will be calculated. I.e. ** is set to 'no' because there was the variant profile is outside the valid date parameters.