Moving to Perth from the UK - Ferrari 360 Spider

Perth Ferrari Owners - Moving UK to Perth ?

Hi to any Perth Ferrari owners,

I may be offered a position in a major worldwide Company based in Perth. I would appreciate any advise you can offer on what makes a good salary to live in Perth in good comfort, cost of living and house prices as well as areas to live in around Perth. I presume most Ferrari owners are in good business and employment therefore your advise is greatly appreciated. Obviously if we are to make this move I need to be secure in the fact that we cover all the bases but still maintain a good standard of living without having to look over the financial shoulder.

I hear tax and super anumeration tax could be high and I may be looking at 50 % in taxation? !! I would first look to rent in order to get a feel for Perth prior to purchase. Purchase would be phase 2 and the need to sell my property in the UK in order to have sufficient finance for deposit.

Again differing stories of the property market, but all other research proves favourable, so any advice, links and information will be greatly received.

I have a 360 Spider, one of the last to be imported to the UK prior to the 430 being released, any advice on shipping the car over? Any news on Ferrari meets and groups in Perth

Thanks again to any response.

Cheers
Tony

 

Many questions!

First point - have you owned the 360 from new? If not have you had it for at least a year (or will you have by the time you move)? If so and you get the appropriate visa you will be able to bring your 360 over as a private import - if not you will struggle to get it over here and registered.

Onto income, tax, and housing... where to start? What do you consider a good salary? The marginal tax rate in Aus is just under 50% so yes tax is an issue. Where to live... what do you want? Do you have family, kids - what ages - do you want to live near the beach, near the city? Do you already know people in Perth and if so where do they live (its a very spread out place)? There is a big cost difference dependent on location - average house price is supposed to be ~A$400k. www.realestate.com.au

Perth is a great place to live but it is pretty remote from the rest of the world - very different from UK!!

 

Hi Tony

$500K pa should cover your living expenses and you need qualified tax advice

Decent house, somewhere North of $1M, depending on how far out of town

Ferrari Club is active - a monthly event at least

What Aedo said about bringing the 360 - check carsales.com.au for local values - then discount yours by 25% to work out whether it is worthwhile bringing

Edit - Perth is a great place to live but don't come - we don't need any more people

 

Aedo,

Many thanks for the start, agree many questions !!

I have lived and worked as an expat in a number of country’s before, so i don’t think the remoteness will be an issue. Spent the last 3 years on aeroplanes or it feels like it. I will have owned the 360 for a year by the time we move, would be a great shame if the car could not come too. Thanks for the link to the real-estate, great start. as for salary it would equate to 2 new 430's !! per annum.

No kids (bonus) only for visiting, but it would be nice to be around the river area. Unfortunately i do not know anyone in Perth but believe a large UK expat contingent exists, next step will be to check out the expat forums.

Again many thanks for kicking of this thread,

Cheers
Tony

 

Heh if you want to meet English people then buy a house in Rockingham!!

Mosman Park, South Perth, Applecross (I live here so one vote for that ), Dalkeith, Peppermint Grove, Mosman Park are the up market river suburbs to look at.

 

I am suprised at the prices (Ferrari's) you guys have to endure !! have attached a few shots of mine, shots taken on the FIA supercar run (tourist Trophy) " as old as your fore fathers" from London to Silverstone, at the side pits (Silverstone) ready for 5 laps of the full GP circuit - Great days, happy days.

Thanks for the info, keep it coming.

Tony
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I feel so sorry for myself right now........

is it in Chinese RMB?? LOL

 

Now youve got me on that one Chinese RMB !! i need educating !

 

WHOAAA!!!!

What I would give for taste of that "BIG COIN PIE"!!

 

That is Chinese currency.

 

JM308,

Many thanks, whats going on with F car prices, i would say + 30 - 40 % more in Aus than the UK. SHOCKED !!

 

30%-40% more than most other Countries around the world I reckon Tony.

But Denmark's Ferrari pricing will make you sh*t yourself.

Here is a snippet of posts from the 599/612 section in regards to 599 pricing around the world.


Denmark Ferrari 599 - 7 figures (>$1MM USD). I'm not joking

i got all the options... almost and was $739 aud which is about $700 us

In the UK the price is circa 200 GBP (Approx 400 USD)

In New Zealand, retail before options is ~NZD$610,000, which equates to ~US$460,000

In Malaysia, 599GTB goes for MYR 2.3MM thereabouts or USD700k...

In China, CNY3.76MM or circa USD544k....

In Hong Kong, its a little over US$500k.

In Italy the 599 6 Speed is 222k Euros (about US $345k) and the 599 F1 is 229K Euros (about US $356k). These are prices without options obviously

In Holland the price is starting at US $465k.. we have so many taxes fuel economy tax, car buy task ( 42% )

There's one in Ireland that's asking for 420,000 Euro. 2007, 3,000 miles!

In Japan a base 599 is 35 million yen, which is about US$325,000

In Portugal without options:
599 GTB - 309.103,00 € In USD: +/- 494$ US
599 GTB F1 - 316.242,00 € In USD: +/- 505$ US

Singapore, the last time I asked a 599 without options was approx S$1.05mio, which is almost US $800k.

€254 250 here in France for a standard F599 (about $379.390 at current exchange rate).
€252 310 with the F1 gearbox ($390.424).

In Finland, 599 GTB F1 487100€... that makes 755,102 USD.




http://www.ferrarichat.com/forum/showthread.php?t=200906&page=4

 

Its called LCT- Luxury Car Tax - and it is going up from 25% to 33% on the first of July. LCT is on top of the ordinary import duty and GST too

 

Don't forget the stamp duty as well. Theres another 4%.

 

Is there any other type of RMB?

 

6.5% in WA

 

$500k? geeze, JM thats big bickies, i was about to say if your getting $250k you'd live very comfortably. but what do i know, im not working anymore

and what do you mean a great place? i opened up a spot for another sucker to fill when i left. and i Think Andre will agree that his spot will not be filled anymore either.

yet another fantastic thing about WA

English, also anywhere North of Ocean Reef.

My vote would go to Cottesloe or anywhere along the river as Dingo stated above Dalkeith, Peppy Grove, Mossy Park etc.

I dont mean to rain on your parade, but given that your car would be an import would make it difficult to sell already (should you want to sell it, but if you intend to keep it for the duration who really cares then ), but being blue you may find that would also reduce your potential market even further, but some may dissagree with me on that point.

As i said, if its your car, and you love it and want to keep it for a long time, just bring it, just be aware its not going to just be the cost of the freight

 

Holy smoke Batman.

 

How are you going to buy a place (assuming you can't pay cash) in any of the areas you mentioned above on less than $500K pa?

Who is Andre?

 

I personally dont think you should own a house unless you own it cash,

better off renting if you dont have the cash to buy IMO


But yes if you were to buy a house with the bank's money in any of the exclusive areas you would need that sort of $$$ i guess. but if youre earning those sort of $$ presumably youve worked your way up and actually already have some equity.

anyway you know Andre, guy on here, Andecorp. Yellow Esprit, Red 348.

 

Interesting thought - a house is one of the few things you can borrow money for that is more likely to increase in value than decrease. If rent is close to mortgage payments it doesn't make sense to rent as you just burn that money..

 

because if you rent you have none of the overheads of owning (ie rates, interest, maintenance etc)

so then you rent, and you buy several investment properties instead.

when i started, for what it cost to buy 1 house in a crappy suburb to live in, i brought 4 houses and rented them out instead. made far more money having 4 houses growing in good areas, than 1 house in a crappy area.

but theres different schools of thaught. but basically borrowings on your home arent tax effective, so why bother, might as well use borrowings that are tax effective and rent a nicer house than you may have purchased anyway.

 

yes, Fake.

which you often get in China.

 

i'm with looney...depending on the economic strength....i'd rather rent than own if the market's not growing and leave the cash in the bank. however, if the economy is strong and houses are increasing at a good rate, then i'd rather have the money in a house that's increasing rapidly capital gains tax free.

again. like looney said, you can't claim the interest on a home loan.

most people just buy a house out of habit...but very few actually work out the finances of it other than it's worth more next year than this year. it's quite complex and takes a bit of brain power. quite an interesting exercise though.

 

Wow and here i thaught you were going to rip me for my comments as usual LOL

does this mean were friends now