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Trump's ‘Big Beautiful Bill': The complete tax guide for high-income earners
Trump's ‘Big Beautiful Bill': The complete tax guide for high-income earners

Miami Herald

time3 days ago

  • Business
  • Miami Herald

Trump's ‘Big Beautiful Bill': The complete tax guide for high-income earners

Trump's 'Big Beautiful Bill': The complete tax guide for high-income earners The "Big Beautiful Bill" fundamentally reshapes the tax landscape for high-income earners. The estate tax exemption jumps to $15 million per person, state and local tax deductions quadruple to $40,000 with income limits, and qualified small business stock benefits expand with graduated exclusions starting at just three years. These changes represent major potential tax savings-but only if you take advantage of all the new tax regulations that may apply to you, which Range highlights here. How the GOP Budget Law Will Impact Your Taxes Here are the main changes in Trump's "Big Beautiful Bill" impacting high-income earners: 1. SALT Deduction: Temporary $40,000 Limit with Income Phaseouts What is the SALT Deduction? The state and local tax (SALT) deduction allows taxpayers to deduct state and local income taxes, property taxes, and sales taxes from their federal taxable income. This deduction is particularly valuable for residents of high-tax states like California, New York, and New Jersey, where state income and property taxes can be substantial. What Changed? The SALT deduction cap increases from $10,000 to $40,000 per household for 2025, but this change comes with income level restrictions: How the New SALT Limits Work Real-World Impact A married couple in California earning $450,000 with $25,000 in state income taxes and $15,000 in state property taxes can now deduct $40,000 instead of $10,000. Assuming a 35% federal rate, this could translate to $10,500 in annual savings, compared to what this household could've deducted with the previous SALT Cap. Over a decade, that's $105,000. Timing Matters: The cap is set to increase by 1% annually through 2029, then reverts to $10,000 in 2030 unless new legislation is passed. 2. Estate Tax: Permanent $30 Million Household Exemption What is the Estate Tax? The federal estate tax is a tax on the transfer of wealth when someone dies. It applies to estates valued above a certain threshold (the exemption amount). For 2025, estates worth more than $13.99 million for a single person or $27.98 million for a married couple are subject to a 40% tax rate on the excess amount. What Changed? The estate tax exemption permanently increases to $15 million per person ($30 million for married couples) starting in 2026. This isn't just a number change-it's a fundamental shift in generational wealth planning that affects far more families than the current exemption suggests. Without this bill, the exemption would have dropped to approximately $7 million per person in 2026, $14 million for a couple filing jointly. Estate Tax Exemption Changes Real World Example A married couple with $25 million in assets would pay $0 in estate taxes under the new law versus potentially $4.4 million if exemptions had dropped to $14 million for a couple filing jointly. 3. Top Federal Income Tax Rate Will Remain at 37% What is the Top Marginal Tax Rate? The top marginal tax rate is the highest percentage of federal income tax applied to your last dollar of earned income. For 2025, single filers earning over $626,350 and married couples earning over $751,600 pay 37% on income above those thresholds. This rate was set to expire and revert to 39.6% in 2026 if no new legislation was adopted. What Changed? The top marginal income tax rate of 37% becomes permanent for high earners, preventing the scheduled increase to 39.6% in 2026. This affects single filers above $626,350 and married couples above $751,600 in 2025. Impact of the Top Marginal Tax Rate Update A high earner with $1 million in ordinary income could potentially save close to $10,000 in annual taxes against their potential tax liability if the 39.6% rate had taken effect as planned. Beyond the cash savings that come from paying income taxes at a lower rate, this change is helpful to those trying to optimize their tax efficiency because it offers more certainty. High earners can now structure compensation, retirement distributions, and business decisions around a known tax environment rather than planning for rate increases. 4. QSBS: The Startup Equity Game-Changer What is QSBS? ‍Qualified Small Business Stock (QSBS) is a special tax benefit for investments in eligible small businesses. Under Section 1202 of the tax code, investors can exclude up to $10 million in capital gains from federal taxes if they hold qualifying stock for at least five years (this remains the benefit for any stock acquired before the new tax law was enacted). The company must be a C-corporation with gross assets under $50 million when the stock is issued, and it must conduct an active business (not passive investments). What Changed? QSBS stock purchased after the new law was enacted can access a tax exclusion of 50% three years after its purchase or 75% four years after its purchase. The original five-year holding minimum to access the full deduction remains in place. Additionally, the maximum tax exclusion increased from $10 million to $15 million (or 10 times your original investment, whichever is greater), while the company's maximum gross asset threshold rose from $50 million to $75 million, meaning more mature startups remain QSBS-eligible for longer. Implementation Note: The new QSBS rules apply only to stock acquired after enactment, making timing crucial for current equity holders considering exercise decisions. New QSBS Holding Period Benefits QSBS Tax Savings Example You exercise $100,000 in startup options that grow to $5 million over four years before acquisition: Old rules: $1.37 million in taxes (no exclusion before five years)New rules: $343,000 in taxes (75% exclusion after four years)Tax savings: Over $1 million This isn't theoretical-it's the new reality for startup employees and founders. 5. Capital Gains Rate: Preserving Investment-Friendly Taxation What are Capital Gains Rates? Capital gains tax applies to profits from selling investments like ETFs, mutual funds, stocks, bonds, or real estate held for more than one year. The rates are 0%, 15%, or 20% depending on your income level, which is generally lower than ordinary income tax rates. For 2025, the 20% rate applies to single filers above $533,401 and married couples above $600,051. High earners also pay an additional 3.8% Net Investment Income Tax. What Changed? The new legislation maintains the 20% top long-term capital gains rate permanently, preventing a scheduled increase to 25% in 2026. This preservation of investment-friendly taxation is crucial for high-earners who generate significant capital gains from stock sales, real estate transactions, and business exits. What Would Have Happened Without the bill, the top capital gains rate would have jumped to 25% for high-earners in 2026, and the income thresholds would have been tied to ordinary income brackets, meaning more taxpayers would have hit the top rate at lower income levels. Impact of the Capital Gains Rate Update Real-World Example On a $1 million capital gain, the difference between the 20% and 25% rates is $50,000 in additional taxes. For high earners with substantial investment portfolios or business exits, this preservation of the lower rate could represent significant savings. Other Important Updates: 100% Bonus Depreciation What Is Bonus Depreciation? Bonus depreciation allows businesses and real estate investors to deduct a percentage of qualifying asset costs immediately in the year of purchase, rather than spreading the deduction over multiple years through regular depreciation schedules. This accelerates tax savings and improves cash flow for business owners and property investors. Qualifying assets include machinery, equipment, technology, furniture, and certain property improvements with recovery periods of 20 years or less. What Changed? The "One Big Beautiful Bill Act" permanently restored 100% bonus depreciation for qualified property acquired and placed in service after Jan. 19, 2025. This reverses the previous phase-out schedule that had reduced bonus depreciation to 40% in 2025 and would have eliminated it entirely by 2027. Thanks to this update, business owners and real estate investors can now deduct the full cost of eligible business assets the year they purchase them, rather than spreading the depreciation over several years. This can unlock thousands in additional first-year deductions while improving cash flow. Frequently Asked Questions for High Earners How much will the SALT deduction increase save me on taxes? The SALT deduction cap increases from $10,000 to $40,000 for incomes up to $500,000. However, the benefit phases out for higher earners, reaching zero at $600,000 in income. A household in New York earning $450,000 with $40,000 in state taxes could save $10,500 annually in federal taxes. The key insight: This creates a significant tax cliff around $500,000 in income. If you're close to this threshold, income timing strategies become crucial. What happens to my estate tax exemption under the new bill? The estate tax exemption permanently increases to $15 million per person ($30 million for married couples filing jointly) starting in 2026. This prevents the scheduled drop to $7 million and could save wealthy families millions in potential estate taxes. You can now implement long-term wealth transfer strategies without worrying as much about future exemption reductions. How do the new QSBS rules affect my startup equity? The bill creates graduated QSBS benefits: 50% exclusion after three years, 75% after four years, and 100% after five years. The maximum exclusion increases from $10 million to $15 million. On a $5 million gain after four years, you could save over $1 million in taxes compared to the previous rules. When do these tax changes take effect, and what should I do now? Most provisions take effect for the 2025 tax year, with estate tax exemption increases beginning in 2026. QSBS changes apply only to stock acquired after the law was enacted, making exercise timing crucial for current options holders. The immediate effective dates mean your tax strategy should account for these changes now. The Implementation Reality These changes are now law, but that doesn't mean you are positioned to fully take advantage of them. The tax planning decisions you make in the next 90 days could determine how much you benefit from these historic changes. The "Big Beautiful Bill" represents the most significant tax reform for high earners in recent years. The opportunities are substantial, but they require sophisticated planning that goes beyond basic tax preparation. For high-income professionals, the difference between understanding these changes and implementing them strategically could mean hundreds of thousands in tax savings-or missed opportunities that can't be recovered. The information provided is current as of July 7, 2025, is subject to change, and is not meant to be relied on as tax advice or a recommendation. Please consult the IRS for up-to-date information. This story was produced by Range and reviewed and distributed by Stacker. © Stacker Media, LLC.

How the 'Big Beautiful Bill' boosts QSBS benefits for startup employees and founders
How the 'Big Beautiful Bill' boosts QSBS benefits for startup employees and founders

Miami Herald

time5 days ago

  • Business
  • Miami Herald

How the 'Big Beautiful Bill' boosts QSBS benefits for startup employees and founders

How the "Big Beautiful Bill" boosts QSBS benefits for startup employees and founders QSBS benefits got an update in Trump's new budget law. Range shares how that could impact startup founders, investors, and employees. The new GOP budget legislation includes a massive win for startup employees and founders: dramatically expanded Qualified Small Business Stock (QSBS) benefits that could save qualifying investors from paying 28% capital gains taxes on millions of dollars in returns. The changes increase the maximum tax exclusion from $10 million to $15 million while allowing partial benefits after just three years instead of the current five-year minimum. For the tech sector specifically, this represents the most significant expansion of startup investment incentives in over a decade. The Joint Committee on Taxation estimates these changes will provide an additional $17.2 billion in tax benefits over the next decade. What Changes with QSBS Under the GOP Tax and Spending Package The GOP budget legislation restructures Qualified Small Business Stock benefits in three key ways: Reduced Holding Period with Tiered Benefits: Previously, you had to hold QSBS for five years to get any tax exclusion. The new rules create a graduated schedule: 50% exclusion after 3 years (effective tax rate: 14%)75% exclusion after 4 years (effective tax rate: 7%)100% exclusion after 5+ years (tax-free) Higher Exclusion Limits: The maximum tax-free gain increases from $10 million to $15 million (or 10 times your investment, whichever is higher). Both limits will be indexed for inflation starting in 2027. Raises the Maximum Gross Asset Threshold For Companies: The gross asset threshold rises from $50 million to $75 million, meaning more mature startups remain QSBS-eligible longer. How These Changes Amplify the QSBS Tax Exemption The expanded QSBS rules create three fundamental improvements that benefit anyone holding qualifying startup equity: More Companies Qualify for Tax Exclusion The gross asset threshold increase from $50 million to $75 million means companies can maintain QSBS eligibility deeper into their growth cycles. This expansion particularly helps employees at Series B and C companies who previously lost qualification and extends the window for later-stage hires to capture these benefits. Earlier Exit Flexibility with Meaningful Tax Savings The tiered approach transforms QSBS from an all-or-nothing proposition into a graduated benefit system. Rather than losing all tax advantages if you sell before five years, you could capture a 50% exclusion after three years and 75% after four years. This change removes the penalty for circumstances beyond your control, like acquisitions or liquidity needs. Substantially Higher Tax-Free Gains The exclusion cap jumping from $10 million to $15 million means 50% more capital gains could be sheltered from taxes. For high-growth companies where individual equity stakes can reach eight or nine figures, this expansion captures significantly more wealth preservation. Who Might Benefit Most from These Changes These changes can particularly impact several key groups: Serial Entrepreneurs and Angel Investors gain the flexibility to recycle capital between ventures without waiting for arbitrary holding periods, while still capturing substantial tax Employees with Stock Options face less pressure around exercise timing, knowing they'll receive meaningful tax advantages even if their company exits before the traditional five-year Capital and Private Equity professionals can optimize portfolio exits around business fundamentals rather than tax calendars, while still preserving significant tax advantages for their investments. Real-World Example: Million-Dollar Tax Savings Consider this scenario: You exercise $100,000 worth of startup options that grow to $5 million over four years, then your company gets acquired. Under Previous Rules: You'd pay the full 28% QSBS rate on all gains (about $1.37 million in taxes) because you didn't hit the five-year threshold. Under New Rules: You'd get 75% exclusion after four years, paying taxes on only 25% of gains (about $343,000 in taxes)-saving over $1 million. Keeping an Eye on Evolving Tax Legislation With the "Big Beautiful Bill" signed into law, the new exemption structure applies only to QSBS acquired after the enactment date, making timing important for current equity holders considering exercise decisions. This expansion comes at a particularly relevant moment for the tech sector. As artificial intelligence and other emerging technologies drive new startup formation, the enhanced QSBS benefits create stronger incentives for both founding teams and early employees to take entrepreneurial risks. The proposed changes acknowledge that the original $10 million and $50 million thresholds, established in the early 1990s, no longer reflect today's startup economics. This is just one example of how tax policy and financial regulations are constantly in flux. That's one of the reasons why it can be easy to miss out on new wealth strategy opportunities as they emerge. The expanded QSBS tax exemption doesn't require new risk-taking or complex restructuring to make startup equity positions more valuable from a tax perspective, as long as investors know how to time option exercising and stock sales to take advantage of the exclusion. This story was produced by Range and reviewed and distributed by Stacker. © Stacker Media, LLC.

Tesla Model Y: Here is when deliveries will begin
Tesla Model Y: Here is when deliveries will begin

India Today

time5 days ago

  • Automotive
  • India Today

Tesla Model Y: Here is when deliveries will begin

The Model Y is Tesla's first offering in India and will be sold as a Completely Built Unit (CBU). While the base version of the Tesla Model Y is priced at Rs 59.89 lakh (Ex-Showroom), the Long Range version is priced at Rs 67.89 (Ex-Showroom). Booking for both variants has begun, and deliveries of the same will begin this year as you have booked the Base version, deliveries of the same will begin with Q3 of this year. The Model Y (RWD) has a claimed range of 500km (WLTP) on a single charge, with a top speed of 201kmph and it sprints from 0-100kmph in just 5.9 if you have opted for the Long Range version, you will have to wait a bit longer as deliveries of this variant will start Q4 of this year. The Model Y Long Range (RWD) has a claimed range of 622km (WLTP) on a single charge and has a top speed of 201kmph and goes from 0-100kmph in just 5.6 seconds. Subscribe to Auto Today Magazine- EndsMust Watch

2025 Tesla Model Y gets range boost, new colour in Australia
2025 Tesla Model Y gets range boost, new colour in Australia

The Advertiser

time6 days ago

  • Automotive
  • The Advertiser

2025 Tesla Model Y gets range boost, new colour in Australia

Australia's top-selling electric vehicle (EV), the Tesla Model Y, now has a longer claimed range in Long Range guise, while there are now six exterior finishes to choose from. The dual-motor Long Range version of the popular mid-size electric SUV now has a claimed 600km of range under the WLTP cycle, up from 551km. The base single-motor RWD remains unchanged at 466km. Tesla Korea certification data shared by Tsla Chan on X shows the Model Y Long Range's battery capacity has been expanded from 81.65kWh to 84.85kWh. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Previous overseas reports have indicated the Model Y Long Range had moved to new 2170 battery cells from LG Energy Solution. Performance figures are unchanged, with the RWD still doing the 0-100km/h dash in a claimed 5.9 seconds, and the Long Range in 4.8 seconds. There's also a new exterior paint colour for the Model Y… or rather, a new shade. Diamond Black is now a $1500 option for all Model Y variants. Some of the Model Y's other exterior finishes have also become cheaper. Pearl White Multi-Coat remains the standard finish, with Glacier Blue now costing $1500 and Stealth Grey costing $1900. Both previously cost $2300. Quicksilver and Ultra Red remain $2600 options. The Model Y range opens at $58,900 before on-road costs for the RWD, with the Long Range priced at $68,900 plus on-roads. The refreshed Performance flagship has yet to be revealed. Tesla's only SUV on sale in Australia recently received a substantial upgrade, referred to as the Juniper update. This brought new front- and rear-end styling and revised suspension, plus a raft of interior upgrades including new heated and ventilated front seats, a 15.4-inch infotainment touchscreen, colour-adjustable ambient lighting, heated and power-reclining rear seats, and an 8.0-inch rear entertainment screen. The update has helped arrest a sales decline for the ageing Model Y, and to the end of June Tesla has delivered 10,431 examples of its SUV in Australia this year. That puts it well ahead of the BYD Sealion 7, 3756 deliveries of which make it Australia's second best-selling EV, as well as other rivals like the Kia EV5 (2765) and Polestar 4 (676). MORE: Explore the Tesla Model Y showroom Content originally sourced from: Australia's top-selling electric vehicle (EV), the Tesla Model Y, now has a longer claimed range in Long Range guise, while there are now six exterior finishes to choose from. The dual-motor Long Range version of the popular mid-size electric SUV now has a claimed 600km of range under the WLTP cycle, up from 551km. The base single-motor RWD remains unchanged at 466km. Tesla Korea certification data shared by Tsla Chan on X shows the Model Y Long Range's battery capacity has been expanded from 81.65kWh to 84.85kWh. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Previous overseas reports have indicated the Model Y Long Range had moved to new 2170 battery cells from LG Energy Solution. Performance figures are unchanged, with the RWD still doing the 0-100km/h dash in a claimed 5.9 seconds, and the Long Range in 4.8 seconds. There's also a new exterior paint colour for the Model Y… or rather, a new shade. Diamond Black is now a $1500 option for all Model Y variants. Some of the Model Y's other exterior finishes have also become cheaper. Pearl White Multi-Coat remains the standard finish, with Glacier Blue now costing $1500 and Stealth Grey costing $1900. Both previously cost $2300. Quicksilver and Ultra Red remain $2600 options. The Model Y range opens at $58,900 before on-road costs for the RWD, with the Long Range priced at $68,900 plus on-roads. The refreshed Performance flagship has yet to be revealed. Tesla's only SUV on sale in Australia recently received a substantial upgrade, referred to as the Juniper update. This brought new front- and rear-end styling and revised suspension, plus a raft of interior upgrades including new heated and ventilated front seats, a 15.4-inch infotainment touchscreen, colour-adjustable ambient lighting, heated and power-reclining rear seats, and an 8.0-inch rear entertainment screen. The update has helped arrest a sales decline for the ageing Model Y, and to the end of June Tesla has delivered 10,431 examples of its SUV in Australia this year. That puts it well ahead of the BYD Sealion 7, 3756 deliveries of which make it Australia's second best-selling EV, as well as other rivals like the Kia EV5 (2765) and Polestar 4 (676). MORE: Explore the Tesla Model Y showroom Content originally sourced from: Australia's top-selling electric vehicle (EV), the Tesla Model Y, now has a longer claimed range in Long Range guise, while there are now six exterior finishes to choose from. The dual-motor Long Range version of the popular mid-size electric SUV now has a claimed 600km of range under the WLTP cycle, up from 551km. The base single-motor RWD remains unchanged at 466km. Tesla Korea certification data shared by Tsla Chan on X shows the Model Y Long Range's battery capacity has been expanded from 81.65kWh to 84.85kWh. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Previous overseas reports have indicated the Model Y Long Range had moved to new 2170 battery cells from LG Energy Solution. Performance figures are unchanged, with the RWD still doing the 0-100km/h dash in a claimed 5.9 seconds, and the Long Range in 4.8 seconds. There's also a new exterior paint colour for the Model Y… or rather, a new shade. Diamond Black is now a $1500 option for all Model Y variants. Some of the Model Y's other exterior finishes have also become cheaper. Pearl White Multi-Coat remains the standard finish, with Glacier Blue now costing $1500 and Stealth Grey costing $1900. Both previously cost $2300. Quicksilver and Ultra Red remain $2600 options. The Model Y range opens at $58,900 before on-road costs for the RWD, with the Long Range priced at $68,900 plus on-roads. The refreshed Performance flagship has yet to be revealed. Tesla's only SUV on sale in Australia recently received a substantial upgrade, referred to as the Juniper update. This brought new front- and rear-end styling and revised suspension, plus a raft of interior upgrades including new heated and ventilated front seats, a 15.4-inch infotainment touchscreen, colour-adjustable ambient lighting, heated and power-reclining rear seats, and an 8.0-inch rear entertainment screen. The update has helped arrest a sales decline for the ageing Model Y, and to the end of June Tesla has delivered 10,431 examples of its SUV in Australia this year. That puts it well ahead of the BYD Sealion 7, 3756 deliveries of which make it Australia's second best-selling EV, as well as other rivals like the Kia EV5 (2765) and Polestar 4 (676). MORE: Explore the Tesla Model Y showroom Content originally sourced from: Australia's top-selling electric vehicle (EV), the Tesla Model Y, now has a longer claimed range in Long Range guise, while there are now six exterior finishes to choose from. The dual-motor Long Range version of the popular mid-size electric SUV now has a claimed 600km of range under the WLTP cycle, up from 551km. The base single-motor RWD remains unchanged at 466km. Tesla Korea certification data shared by Tsla Chan on X shows the Model Y Long Range's battery capacity has been expanded from 81.65kWh to 84.85kWh. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Previous overseas reports have indicated the Model Y Long Range had moved to new 2170 battery cells from LG Energy Solution. Performance figures are unchanged, with the RWD still doing the 0-100km/h dash in a claimed 5.9 seconds, and the Long Range in 4.8 seconds. There's also a new exterior paint colour for the Model Y… or rather, a new shade. Diamond Black is now a $1500 option for all Model Y variants. Some of the Model Y's other exterior finishes have also become cheaper. Pearl White Multi-Coat remains the standard finish, with Glacier Blue now costing $1500 and Stealth Grey costing $1900. Both previously cost $2300. Quicksilver and Ultra Red remain $2600 options. The Model Y range opens at $58,900 before on-road costs for the RWD, with the Long Range priced at $68,900 plus on-roads. The refreshed Performance flagship has yet to be revealed. Tesla's only SUV on sale in Australia recently received a substantial upgrade, referred to as the Juniper update. This brought new front- and rear-end styling and revised suspension, plus a raft of interior upgrades including new heated and ventilated front seats, a 15.4-inch infotainment touchscreen, colour-adjustable ambient lighting, heated and power-reclining rear seats, and an 8.0-inch rear entertainment screen. The update has helped arrest a sales decline for the ageing Model Y, and to the end of June Tesla has delivered 10,431 examples of its SUV in Australia this year. That puts it well ahead of the BYD Sealion 7, 3756 deliveries of which make it Australia's second best-selling EV, as well as other rivals like the Kia EV5 (2765) and Polestar 4 (676). MORE: Explore the Tesla Model Y showroom Content originally sourced from:

2025 Tesla Model Y gets range boost, new colour in Australia
2025 Tesla Model Y gets range boost, new colour in Australia

Perth Now

time6 days ago

  • Automotive
  • Perth Now

2025 Tesla Model Y gets range boost, new colour in Australia

Australia's top-selling electric vehicle (EV), the Tesla Model Y, now has a longer claimed range in Long Range guise, while there are now six exterior finishes to choose from. The dual-motor Long Range version of the popular mid-size electric SUV now has a claimed 600km of range under the WLTP cycle, up from 551km. The base single-motor RWD remains unchanged at 466km. Tesla Korea certification data shared by on X shows the Model Y Long Range's battery capacity has been expanded from 81.65kWh to 84.85kWh. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert Previous overseas reports have indicated the Model Y Long Range had moved to new 2170 battery cells from LG Energy Solution. Performance figures are unchanged, with the RWD still doing the 0-100km/h dash in a claimed 5.9 seconds, and the Long Range in 4.8 seconds. There's also a new exterior paint colour for the Model Y… or rather, a new shade. Diamond Black is now a $1500 option for all Model Y variants. Some of the Model Y's other exterior finishes have also become cheaper. Supplied Credit: CarExpert Pearl White Multi-Coat remains the standard finish, with Glacier Blue now costing $1500 and Stealth Grey costing $1900. Both previously cost $2300. Quicksilver and Ultra Red remain $2600 options. The Model Y range opens at $58,900 before on-road costs for the RWD, with the Long Range priced at $68,900 plus on-roads. The refreshed Performance flagship has yet to be revealed. Tesla's only SUV on sale in Australia recently received a substantial upgrade, referred to as the Juniper update. Supplied Credit: CarExpert This brought new front- and rear-end styling and revised suspension, plus a raft of interior upgrades including new heated and ventilated front seats, a 15.4-inch infotainment touchscreen, colour-adjustable ambient lighting, heated and power-reclining rear seats, and an 8.0-inch rear entertainment screen. The update has helped arrest a sales decline for the ageing Model Y, and to the end of June Tesla has delivered 10,431 examples of its SUV in Australia this year. That puts it well ahead of the BYD Sealion 7, 3756 deliveries of which make it Australia's second best-selling EV, as well as other rivals like the Kia EV5 (2765) and Polestar 4 (676). MORE: Explore the Tesla Model Y showroom

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