Importing Gtr Over From Uk

[g35me]

So thats is basically 91K. What would be the point? By the time he gets it here after owning it for 12 months the ADM '09 will be 90K. They are already going for $105 - $110K.

[williamsf1]

Thanks BB, it does look like he would need to get the car for less than 70k to make it worth while....

The UK looks good though currently!!!

[Alkatraz]

Beer Baron, what arguement can you use when they ask for the dutiable value? I asked here in WA and was told that dutiable value is how much the car could be sold for on the Australian market.

Also, what is the reason behind not having to comply a personal import which has been owned for 12 months? I thought the whole point of compliance was to bring the car to Australian standards? Sorry if this has been covered 100000 times.

[jjman]

given you can literally important anything you want as a PI perhaps consider buying something that is not sold or commonly available in australia? enjoy it for the 18mths in the UK, bring it to aus, sell it and then buy the R35 GTR you want.

definately this.

get something mad n british so it is cheap there too. e.g. an Ascari http://www.pistonhea...cari_kz1-24.jpg

or Gumpert apollo (that british?, it woudl be cheaper in europe anyway) http://www.cartype.c...apollo_3_09.jpg -'oh,oh, boner alert'

my mate did this n got the Corvette C6 'ZO6' model. the one with the handbuilt race-spec 7litre V8. 505hp off the showroom floor kids

got it for 90k n they usually go for close to 200k here in aus...

Edited September 28, 2011 by jjman

[r32line]

yes the 'dutiable value' will be the sticky point but you could probably successfully argue it as the price paid + freight.

let's assume they agree to his declared value of $70K + $3K in shipping costs.

$73K-$57K=$16K X .33 = $5.3K

he'll also pay 73K X 0.05 = $3.7

plus GST which is levied on the cumulative cost of declared value + freight + duty

so 73K + 3.7K = 76.7K X .10 = $7.67

so you now have:

$5,300 LCT

$3,700 duty

$6,670 GST

$3,000 freight costs

Then:

$200 for customs clearance

$500 in port charges (AQIS inspection, cleaning etc)

$50 for VIA

$200 towing from wharf

then:

$800-$1500 for the stuff needed for personal import plate.

blue slip (approx $400)

green slip (approx $500)

stamp duty (3% of declared value in NSW)

rego (approx $350)

and you're done. there is no 'compliance' done on personal imports so don't listen to anyone who tells you he needs to comply it. my advice would be call DoIT - Vehicle Imports, or even better Customs and discuss how they will determine the dutiable value as if they do deny his claim that it's $70K and base it at $120K then LCT component goes through the roof ($20K), as does GST and to a lesser extent import duty.

From my understanding once you've owned something OS for more than 12 months which for a personal import has to be the case then they will value the car based on what it is worth in Australia, not what you paid for it less depreciation..You only pay taxes on purchase price less depreciation if the car is less than 12 months old but if you haven't owned it for more than 12 months you cant bring an R35 in. Kind of catch 22 really....

I fail to see how the price paid or the 'transaction value' would not be acceptable...<LINK>

[turboadam]

Fungoolie is correct.

R32line, it even says in your link that most vehicles imported do not fit into the category of duty payable on the purchase price, but rather must be valued here in Oz.

[Kujotk]

If it were worth while.... there would be a flood of them comming over, the fact is there isn't a flood of them making their way over to aus.

Everyday the AUD weakens, the more expensive this operation will cost.

Bring something decent over instead, something that will sell and leave you with profit at the end as well as being able to enjoy a car for 12 months.

Other than that I know people that would love to pay you to use your stay in the UK to bring something special over that can only enter the country under the Private Import scheme.

[Jaycoh]

Think i've decided i will head over to the UK and buy a GTR for cheap, $50K for an 09, or might go with a 2010 for $60K which seems to be suggested as a better model. Then find somewhere to live, find a job maybe for something to do, and then bring it back here when i'm done(after the 12 months required for personal importing is up). Either that or buy a brand new Evo X for the same price and stay here, maybe i can mod it up to try and get anywhere close to the GTR in terms of quickness...

[domino_z]

Think i've decided i will head over to the UK and buy a GTR for cheap, $50K for an 09, or might go with a 2010 for $60K which seems to be suggested as a better model. Then find somewhere to live, find a job maybe for something to do, and then bring it back here when i'm done(after the 12 months required for personal importing is up).

Edited March 14, 2012 by domino_z

[skiids]

Haha. Zig ziglar is a champ!

[Iron Chef]

Yes it's worth doing, but for the money you spend, there are better options if you want to 'maximise your resale potential'...

Shameless self-promo - www.ironladyimports.com

[Cplus]

all you blokes shocked by the law etc etc - think about it for a minute.

it's all set up so that people DON'T do what the OP is trying to do (ie: bring car over for a big profit)

the law is setup for those that live oversees, love their car and want to bring it home.

they then want the costs ideally to be only *just* less than what it would be to replace, so yes, you'll do it, but no, the goverment won't lose out on the money they would had you left it behind and then purchased the closest equivalent when you emmigrate back to Aus.

it's generally ONLY ever worth it if the car is one you have O/S and you actually do *need* it whilst there.

owning a GTR or Porsche or whatever for 12months is a massive cost in itself (insurance in the UK is horrendous, plus it'll be parked outside more than likley and get covered in dings, scratches, bird shit, salt etc etc)

So unless you can justify owning it and using it - it never stacks up. the idea of buying something and sticking it in a garage for 12 months for the sake of 10-20% profit (ABSOLUTE best (realistic) case once ALL the costs are taken into account - ie: the garage for a start!) is ludicrous and not the best use of your money for 12 months+

and remember, it's a risk. you might make 20%, but you also might make a loss pending market, currency change, import rules changes etc - so you need to accept that risk as well - 12months is a long time.

my 2c.

[Cplus]

oh, i'm sure there are isolated cases, for particular cars, where the $$$'s stack up and big profits are possible. like a drophead or an Aston or cheap M5's i'm sure considering the prices here v UK.

My mate also landed a 328 he owned for 2years in the UK and saved heaps on buying one here - but he didn't count the cost of owning it in the UK as his wife drove it to work 3days a week and then they did 5000km around Europe with it. so it's a different case.

but - this wouldn't fall into the realms of possibility/reality for most and all the other 12month costs are still to be considered.