How much should i PUT for stamp duty?

[Guest StickyIckyIcky]

Say i buy a R33 GTR which is worth around $35k

what do you think i should put as my market value that is belevable?

Would $10K work?

P.s i live in NSW

cheers

[sewid]

Stamp duty is 3% of the purchase price. So if your purchase price is $35k and thats what you tell the RTA then they will charge you 35000 x 0.03 = $1050.

If you can get a bill of sale or whatever with a lower purchase price you can lower your stamp duty. You might not be able to do that though.

[akeenan]

lower it slightly but only so its believable.

[unwritten law]

When I bought my 32 I asked the guy if he was willing to put down a lower car value so i could get stamp duty cheaper and he said 'I will but if your car gets stolen, the insurance company looks into ur rego and suses out what duty u have paid on it' He had a car stolen previously. Also big fines apply if you dont pay the correct duty. In queensland its only 2%. Your choice.

[akeenan]

insurance compaines also have a thing known as agreed value and stuff...... so if you go this way it wont really mater as long as the agreed value is the same or more then you paid!...

[R34GTT-R]

Well here in vic i put the cheapest sometimes ridiculous value i can and if they dont agree they send you out a letter saying you have undervalued your car and want you to get it value tested by someone in there department.I have yet to reply to there request and have heard nothing more.I would just put 10k if you get caught there is no futher penalty expect paying the difference.

[RadiuM]

over here in WA it use to be a certain %, then i got my car and all of a sudden it had changed to a sliding scale. bastards.

R34GTT-R: i put 15k for my 32 gts-t, i got a letter from the government saying it was worth 32k and i had to pay the difference or show them how i came to 15k. the idiots in redbook dont have a listing for a T, so they just assumed it was an R. morons.

Shaun

[Greg]

if you are the first oz owner you could put down the price paid for the car at auction in japan, that way you've got documentary evidence to back up the claim too.

[T0nyGTSt]

The story in NSW is that your import car is valued on how much it cost to land your car at the RTA.

ie. auction price + shipping + import duty + agents fees. Of course this is a tax on a tax but they don't see it that way.

With the way it is of imports, $30,000 is believable for a 1995 r33 GT-R.

For an r32 GT-R, I would say $17,500 or less is believable with the way 15 y.o. imports are going.

If you put too little, State Revenue will pull you up, make you pay their valuation and fine you.

T.

[3R1K]

Btw, I got my car for around 30kish and pay 2500 stamp duty to let you know stamp duty is hell expensive, it's more than 2000 for luxury car (30000 above)

[Shell]

Originally posted by Greg

if you are the first oz owner you could put down the price paid for the car at auction in japan, that way you've got documentary evidence to back up the claim too.

I did this, and got away with it

my car was 550,000 yen (which came to just under 10K at the time) so I showed the lady my receipt which showed this amount.

so I only paid 3% on 10K instead of the landed and complied cost which was just over 20K.

and yes, the law (in ACT anyway) is the price you paid, or market value whichever is the greater but they didn't see many imports here 2 1/2 years ago, so she didn't even think to question the amount I put.