Gtr35 Prices Drive Away

[Max_ST-R]

We shouldn't have LCT full stop! It's an old school regressive Labor tax from the dark ages, that said, whilst the Libs lowered it, they should have done more to get it abolished. If people weren't paying an extra $30K in taxes on their new motor car I'm sure that money be pumped into other areas of the economy which could also stimulate growth.

[Beer Baron]

I agree buying over there and holding it for 12 months isn't worth it. BUT my understanding was there is no LCT to be paid on personal cars that you owned overseas for 12 months.

i'm not sure how you came to this understanding[i/] you have but it's more of a misunderstanding really. I would love to know who told you that personal imports are exempt from tax? if the car being imported is valued at more than the LCT threshold then you pay import duty, GST and LCT. It doesn't matter how personal it is or how many months years or decades you owned it in Japan. LCT is not based on how long you've owned a car or whether it's 'personal' or not. it's a simple math equation that is applied based on the value or cost of the car being imported into this country. if that car (including the value/cost, the import costs, the duty and the GST all added together) exceeds $57,108 then you will be paying 33% on the value over that threshold.

the ONLY exemptions are:

* A motor home or campervan.

* A commercial vehicle, and is not designed principally to carry passengers.

* GST-free and specifically fitted out for transporting disabled people seated in wheelchairs.

* A fuel efficient car (combined-cycle fuel consumption of 7 litres per 100km or less) under the fuel efficient car limit, currently $75,000 (including GST and import duty)

[Sammy-qld]

i'm not sure how you came to this understanding[i/] you have but it's more of a misunderstanding really. I would love to know who told you that personal imports are exempt from tax? if the car being imported is valued at more than the LCT threshold then you pay import duty, GST and LCT. It doesn't matter how personal it is or how many months years or decades you owned it in Japan. LCT is not based on how long you've owned a car or whether it's 'personal' or not. it's a simple math equation that is applied based on the value or cost of the car being imported into this country. if that car (including the value/cost, the import costs, the duty and the GST all added together) exceeds $57,108 then you will be paying 33% on the value over that threshold.

the ONLY exemptions are:

* A motor home or campervan.

* A commercial vehicle, and is not designed principally to carry passengers.

* GST-free and specifically fitted out for transporting disabled people seated in wheelchairs.

* A fuel efficient car (combined-cycle fuel consumption of 7 litres per 100km or less) under the fuel efficient car limit, currently $75,000 (including GST and import duty)

My mistake, it was from years ago when I talked to the govening body about bringing in my Rx7 from NZ. I remember now it was not the taxes I was worried about, it was the ability to register the car. owning it over there gave you the right to register the car in oz only, then you paid duties.

My bad on that one, remembered it incorrectly.

I had a NZ$45,000 Rx7 in 2001 trying to bring it into Australia after moving here. The guy's took me through all the taxes about AU$22,000 duties (NZ $30,000 at the time). Then after saying "ok i'll pay it" he said "oh no you can't register it once you get it here without crash tests". I was like "WTF", there was no way at that time to register it in Australia. Couldn't believe how closed Australia's car market was compared to NZ. Australia having a car manufactoring sector of course is the reason and fair enough.

[R33Gangstar]

O_o

[fungoolie]

And yes they do screw you on the rego, $5500 for regoing a car after paying 33% Lux tax & 10% GST is just so wrong. Hows this, my car was registered in Melbourne by the first owner he had to pay $6000 to rego it in Melb, then he sold it brand new to me, I drove to QLD, registered it there another $5500. Thats $11500 in Registration fee's on one car.

Am I reading this correctly? You paid stamp duty AGAIN when you transferred a car from state to state? I have never heard of this. Martin or Munro you might be able to shed some light on this because you both transferred your 35s from NSW to SA. Ive sold cars to WA and registered in SA first so that the new owners could save on the highWA stamp dutyrates. They only got charged transfer fees and plate fees to reg in WA.

[Munro]

If the car is being transferred to another owner then stamp duty is payable. If you are just changing address to another state but is still your car then you have already paid stamp once & thats it. Cars that are bought from interstate dealers that are registered over there & then come here did not have stamp paid as dealers have exemption so we have to pay it here when put car in our name.

The stupid thing is the Gov gets a slice EVERY time a car is sold which is ridiculous. Ist time fair enough, 2nd, 3rd, 4th is just a rort. Same goes for houses......

Best just to buy one car & one house & keep them till you die!!! Sounds a bit boring though. Oh well. Like I always say -

if you want to play......you have to pay.

[fungoolie]

If the car is being transferred to another owner then stamp duty is payable. If you are just changing address to another state but is still your car then you have already paid stamp once & thats it. Cars that are bought from interstate dealers that are registered over there & then come here did not have stamp paid as dealers have exemption so we have to pay it here when put car in our name.

The stupid thing is the Gov gets a slice EVERY time a car is sold which is ridiculous. Ist time fair enough, 2nd, 3rd, 4th is just a rort. Same goes for houses......

Best just to buy one car & one house & keep them till you die!!! Sounds a bit boring though. Oh well. Like I always say -

if you want to play......you have to pay.

Thanks John, I just re-read it and realised I misunderstood what was written. I thought he had paid stamp duty in Vic and then had to pay it again when he transferred the car to Qld. The previous owner had paid the last lump of vic stamp duty not Sammy-qld.

David