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What (who) is luxury tax - definition
Luxury tax
TAX ON LUXURY GOODS
Luxury Tax
A luxury tax is a tax on luxury goods: products not considered essential. A luxury tax may be modeled after a sales tax or VAT, charged as a percentage on all items of particular classes, except that it mainly directly affects the wealthy because the wealthy are the most likely to buy luxuries such as expensive cars, jewelry, etc.
Luxury tax (sports)
SURCHARGE PUT ON THE AGGREGATE PAYROLL OF A SPORTS TEAM
Luxury tax (sport)
A luxury tax in professional sports is a surcharge put on the aggregate payroll of a team to the extent to which it exceeds a predetermined guideline level set by the league. The ostensible purpose of this "tax" is to prevent teams in major markets with high incomes from signing almost all of the more talented players and hence destroying the competitive balance necessary for a sport to maintain fan interest.
Luxury Car Tax
TAX WITHIN THE AUSTRALIAN TAXATION SYSTEM
Luxury car tax
The Luxury Car Tax (LCT) is a tax within the Australian taxation system, collected by the Australian Taxation Office on behalf of the Australian Government. It began on 1 July 2001, having been brought in by the John Howard Coalition government.
Examples of use of luxury tax
1. Its party platform two years ago called for a progressive income tax and a luxury tax on items such as cars and yachts. «
2. Chavez recently announced plans for a "luxury tax" targeting second homes, art collections and expensive cars that would be aimed at redistributing wealth to the poor.
3. Maybe the city could just double the luxury–tax charge on the little fellow. ___ On the Net: http://www.pressofac.com ___ May 3 Seattle Post–Intelligencer, on Boomers looming: Listen.
4. He did not give details on the gas price hike, which he said would not affect bus drivers who provide public transportation, or the luxury tax.
5. Though Chavez insists he will respect private property, he plans a new luxury‘‘ tax on everything from second homes to art collections, and the rich will undoubtedly feel the pinch.