266 What is the “dutiable value” of a motor vehicle?
(1) The dutiable value of a motor vehicle is:
(a) the consideration in money or money’s worth given for the acquisition of the vehicle, or
(b) the market value of the vehicle at the time duty is payable,
whichever is the greater.
(2) The dutiable value does not include:
(a) GST if the supply of the vehicle is GST-free under Subdivision 38-P (Cars for use by disabled people) of the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth, or
(b) a premium paid for extended warranty insurance.