Ive got the same setup as r32_Gts4.
Just under ther steering colum, to the right side where the dash goes down and meets the tunnel for the gearbox.
A turbo timer is only illegal if you leave the car running and walk away from it whilst engine is running. I had a cop hassle me about it ages ago and i told him its used for when i take my car to the track, once i have done a few laps and come back to the pits i can let the car cool down.
I cant remember the exact law or phrase for lusing a turbo timer in public but you could try the RTA website or even go to your local police station and enquire!