the aussie cool/tool number plate thread

Wonder what a 348 plate would be worth ?

 

I thought about that, but I already have PAP 348 on the car, that only cost me $400.

If I get a Q plate, it will most likely be just some random number and I will decide on the day how much money I want to blow on one.

What Q348 is worth?? Dont know. Those numbers dont mean much to anyone other than a 348 owner.

So I assume it would be worth what any mid 300 Q plate would be worth. Whatever that is??? $50K?? I dont know.

 

A 348 plate in NSW is worth $348k according to a mate of mine.

 

Lol, I bet.

 

hahaha,

very funny, Q70 only went for $70k by comparison.

i'd be guessing $15k (ish) for any random person, and someone who wants it for their 348 may be willing to pay more.

but who knows, the market is fickle for everything these days.

 

Lol, well there ya go.

Thanks for the info. I will be sure to offer $15K ish if I ever see it come up for sale.

Btw, dont you answer your phone anymore??

 

photo says it all

[STIGY] nissan pulsar N13
[TRQLZR] WH holden stateman
[MRGUY] vw golf MK 2 i think
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Rules on Private & Business motor vehicles.

Cars bought privately and sold for a profit .. no CG payable, as Scott says ATO notification rules of profits on sales have changed .. certainly in the 45 years I have been paying tax. Of course the main thing the tax department is interested in is somebody slotting cash earnings from a cash business (Chinese takeaway) back into the bank (which IS taxable) with the inflated sale of a car proceeds (which is NOT taxable)

Bought privately & sold for a loss .. NO capital loss allowed to be put against a CG.

Cars bought/leased in a business and sold. If the car is sold for more than the written down value on the day of sale it is taxable. Ie. if the car is depreciated to less than the sale value, then the excess is taxable as an addback of depreciation ( ie. an addback of an expense, rather than a Capital gain)
Hence cars that have been written down to zero .. is an unwise move. As ANY sale amount is taxable.

Cars sold at a loss .. ie less than the written down value .. tough

Cars purchased in a super fund .. If you are REALLY keen to see how nerdy some tax officers are then try this route. 25 years ago my Accountant said .. NO DEAL and crossed his arms ... he says the same today.

Artworks ... very strict guidelines for superfunds.

Now exceptions to the rule may be the following which I have had no experience with:

Race cars ie Goobs if he claims his expenses against a business, and depreciates or even writes off the race car? Expenses would be a legitimate business deduction, what about the car??

A car that is uninsured and has a written down value and is then writen off in an accident .. can any loss be claimed.?

A car such as an F50. Unregisterable in Australia, purchased overseas and sold overseas .. Capital loss/gain??, currency fluctuations?? Is the car able to be claimed (depreciated) against a business?

I cannot begin to say how iniquitous I find Capital Gains rules .. I was quite lucky purchasing virtually every piece of property I owned in the business and super fund before 1983, now only have our house here left, a few shares, some cash and a few cars the main thing is NO DEBT

 

Hey guys.......if anyone is after a specific Qplate, especially a 3 digit, let me know and I may be able to find it for you.
I am in the process of re vamping www.qplate.com.au and there will be a wanted section added over the next couple of days.
Pap.....there will never be a better time to buy Qplates
If your interested, email me through the site and I will be happy to talk with you.

Cheers,
Scott

 

Sadly you are mistaken.

 

Thanks mate, when the time is right I will be in contact with you.

Cheers Pap

 

My understanding is that if it's a one-off, it's ok, but if one makes a habit of selling cars for profit, the ATO will come a-knocking.

 

Even if you sell for cash?

 

Some recent snaps of [388] and [345]. I also saw [60] I think it was on a black SL but didn't get any pics.
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Interesting, I used to own # 388. Traded it on # 288 which is now on my 308 GTB

 

#14 on some old bentley

 

Small world kinda stuff eh?

 

Three digit plates come standard with every new euro over $57k. Used to be a nice thing to spot... now one sees 20 a day. Shame.

 

Ah, true eh.

Not rare anymore, just like seeing a Ferrari.

 

Yes, exactly.

 

Only in certain parts of town. In inner city Stonnington / Booroondara type areas - yes, in outer suburbs like Sunshine, Frankston, Dandenong, Broadmeadows - no.

 

slappers around here have 'em yawn.

 

not just stonnington or booroondara. anywhere within 10km of the cbd, and especially in the cbd.

 

and provided it's privately owned.

The reason why there is (usually) no tax on the private sale of a motor vehicle is that 99.9% of the population makes a capital loss when they sell their car,and the tax man does not want to allow them to claim a CGT deduction.

But if there was going to be a tax implication, then how long you owned the car for, and what the purpose of it's purchase were would be key factors. As 360C said, lots of variables.

IE. ordered new Enzo, paid RRP, flipped it 2 weeks after delivery and made a killing - likley you'd be liable for tax. (even though the intention when you ordered it 2 years earlier was to keep it , and no one could predict that it would sell for more than RRP, the fact that it was owned for 2 weeks would probably make you liable for CGT) If you waited a year, and drove the car before selling it the circumstances might be different.

or bought 246 Dino in 1986, sold in 2007, unlikey any tax at all (long term ownership)

or bought Ferrari in the UK, and immediately after it being complied you sold it for a profit , you'd be liable for tax ( reason for purchase was to sell it )

And any ar or privately held assett held pre 1985 is capital gains tax exempt, so no tax at all.

(btw this is my understanding, and not accounting advice)

M

 

good point
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