Hey Guys, If you import a pre 1989 Vehicle - Say for Example a 1988 F40. Do you still have to pay LCT on the import??
In which case you would have to pay the LCT upon selling the vehicle correct?? Or do you just need a LMCT??
yes you still have to pay LCT regardless, if you have a dealers lic you may get an exemption however just as I could have done on a 1969 race car, you can claim it back off your BAS if you can demonstrate the purpose of its importation. So in essence you have to pay, some idiot here who wanted to import a Zonda wanted me to cop the LCT off the price off my BAS.....I kindly said Get faraway
correct, unless you can prove that it is a race car.....which I did, they dont look at the car, they look at your paperwork and how its written 360ch's and 430ch's were hard to get through cos of the fact they can seat 2 people
they only came with one seat in the case of the Lola..........if I remove that seat..........there is nothing left
From what I can interpret from the VicRoads website, you can get a "CH" plate (Club Permit) like RB has on his Porsche once the car is 25 years. That will allow owners of F40's in Vic to attend events that are officail club events which would include drive days. http://www.vicroads.vic.gov.au/Home/Registration/PermitsModificationsAndDefects/OtherPermits/ClubPermits.htm Having said that I recall 360C commenting that the rules are about to change.
Greetings .. a quick run down as I understand it. Let's say (1) a 1935 Alfa, (2) a 1972 Daytona and (3) a 2005 575M. Price in UK as of today is $100K for each (Lets say OK, I know it is very different) Plus permit cost to import = $75 Plus freight and costs to Oz = $ 8000 Cost landed = $ $108075. Plus GST @ 10% = $118,882 PLUS LCT = 33% above about $57K = $139,303. Alfa and Daytona can now go off and be registered in at least NSW with no further modifications AFAIK . Cost is rego + stamp duty = $1000 + $6065 = $146,368. However as they are >30years old they are OK for club historic plates and hence do NOT pay Stamp duty and rego is $85. Cost is $139,388 575M needs now to go to compliance certification + parts which is about $27000 for a 575. MUCH more if it is not TOTALLY original (ie. aftermarket exhaust/wheels/etc) 575M now is up to $166,303 it now goes off to NSW for Rego + stamp duty @ $166K = $1000 + $7,415 = $174,718. I am not 100% sure if, in NSW, the Stamp duty calculation is inclusive of the compliance costs. However there is talk that following the introduction of the GST stamp duty on Cars and houses will be deleted ... as far as I know when hell freezes over When I was looking in the UK my rough rule of thumb was an Australian car cost about 3 times the GB price in pounds .. at 60p for a dollar. WRXMike has done a spreadsheet on these costs ..not sure if he has posted it here?
that is a remarkably accurate rule of thumb for cars that are not liable for import duty. Doesn't a 575 have a duty liabilty?
Ian ... Doh ... forgot import duty (10%) for the 575 (post '89). I don't believe the year is indexed either ie. '89 is the cut off for the next ?? years, but duty is coming down to 5% at some point? For 'Race cars' (unregisterable) duty is 5% (after what year??), GST is payable on all and I don't believe 'luxury car' tax is payable?? ... Goober ?? Peter .. Import duty @ 10% is payable only on post 1989 cars .. the 328 was '88 or '89?? Yasmin .. VAT is a tax in the UK, and payable ONLY on new cars. 2nd hand cars in the UK are not charged VAT. Unlike GST in Australia chartged every times a car changes hands through a dealer or registered business .. espedcially important for those businesses that buy a car, claim the GST, then sell that car and do not forward the GST .. this does not apply to this retired geriatric ... just turned 62 Philip C BTW On the way back from Sydney on Monday I called in to Ferrari Sydney, at the new building, to enquire about PIN codes and key sets for the 575. In the car park below was about 3 x 458's (all red) in various stages of 'pre-car delivery' ... yep I know this post is useless without pictures .. unfortunately I forgot to take my camera. I have received an email from Ferrari to say they will NOT be at the Sydney motor show .. however call in to see the 458's, a snip at $610K OTR.
I am selling futures contracts on low mileage used 458's for $350K in 2012. Just send me $35K to secure your car.
and the cheque is payable to whom?? ... in the post as we speak (I know I'm post-whoring ) ... Too bloody wet to do anything on the farm today .. paddocks to slash/plough and destroy in the usual farming way
Phil, I am looking at moving onto a farm, good life ? I think the Gold Coast is too dangerous for a young boy and my boy is easily led a small 10-20 acre farm would do me
