Cabrinha06 0 Posted August 29, 2015 Share Posted August 29, 2015 Hi guys, Just a quick message to ask you about something I have no idea about and struggling to find an official answer: I'm planning on buying a second hand yacht in OZ and bringing her to NZ. But in terms of paper work and taxes, what will be required? As far as I know, GST is for brand new goods...but I may be wrong. So, if some of you guys have experiences with this it would be great! Cheers. Quote Link to post Share on other sites
Deep Purple 511 Posted August 29, 2015 Share Posted August 29, 2015 5% Duty plus 15% GST on the value of the boat including freight costs. Doesn't matter how old it is, however if it was originally built in NZ you don't get charged the 5% duty. You still get charged GST though Quote Link to post Share on other sites
Cabrinha06 0 Posted August 29, 2015 Author Share Posted August 29, 2015 Thanks Sundreamer!! But how come a good can be subject to the GST multiple times? Quote Link to post Share on other sites
Deep Purple 511 Posted August 29, 2015 Share Posted August 29, 2015 When it was sold out of OZ or NZ the owner claimed back the GST or should of if he had used his noodle. Quote Link to post Share on other sites
Deep Purple 511 Posted August 29, 2015 Share Posted August 29, 2015 ps OZ GST is not NZ GST Quote Link to post Share on other sites
Cabrinha06 0 Posted August 29, 2015 Author Share Posted August 29, 2015 Yes, the OZ GST is not the same as NZ GST. My "issue" is that the same good has a GST applied twice. Is it possible to claim the OZ GST back for a yacht that is 12yrs old? Quote Link to post Share on other sites
marinheiro 352 Posted August 29, 2015 Share Posted August 29, 2015 If the yacht was built in Australia I do not believe duty is applicable (CER agreement). You will not get an Australian GST refund exporting a used ítem, be it car, motorbike boat etc, from the ATO. They have no interest in taxes you might have to pay elsewhere Quote Link to post Share on other sites
RushMan 31 Posted August 29, 2015 Share Posted August 29, 2015 Are you being charged GST in Australia on the purchase? If so I think you might be able to claim it back when the boat is exported. I know this is possible for new items, not so sure for second hand items. Quote Link to post Share on other sites
Deep Purple 511 Posted August 29, 2015 Share Posted August 29, 2015 You arrange s GST registered broker to purchase the boat then export it to you. You slip him a grand for his trouble. Simple Quote Link to post Share on other sites
marinheiro 352 Posted August 30, 2015 Share Posted August 30, 2015 sorry to be the downer, but the ATO have SD's scheme covered, with very prescriptive regulations - GST refund is for "new" boats only - no more than 12 mths old and rules about usage, mods, on-selling etc. One other "surprise", a friend recently bought a power cat in QLD to be delivered to NZ, and he could not find a surveyor there. Apparently they do not want to know pleasure boats because there is no money in them but large potential liabilities. Cabrinha - are you sure you cannot find want you want in NZ? Australian market is way overpriced and you would take both the FOREX & GST hit. Those costs could go a long way towards refitting a local yacht. Quote Link to post Share on other sites
darkside 61 Posted August 30, 2015 Share Posted August 30, 2015 Marinhero is correct no duty from Australia. We had to pay GST within a week (in Nelson), although that seems to vary a bit with who you get at the customs office. I also agree with the surveyor in Queensland comment, we did get one but he was useless. The boat was fine but I could have checked it better myself. Quote Link to post Share on other sites
Cabrinha06 0 Posted August 30, 2015 Author Share Posted August 30, 2015 Thanks for all your replies guys, it helps to understand the rules!! So in fact, buying a second hand yacht in OZ needs to add the NZ GST to it, even if the yacht is not brand new... I'm after a second hand cruiser/racer near 50ft. For the moment I focused on First 47.7 and in NZ they are none for sale (one from 36 degrees brokers but sold and was at 300k), while in OZ they are more and "cheaper".But of course, after adding the NZ GST, it's the same price...but at least there are options Quote Link to post Share on other sites
Cabrinha06 0 Posted August 31, 2015 Author Share Posted August 31, 2015 However, it seems that there is a 5% Duty fee. When looking on the Customs Website, boats have 5% Duty fee if not built in OZ or USA. Also, how long do we have untill we must pay the GST? One or two years? Cheers Quote Link to post Share on other sites
Island Time 1,211 Posted September 1, 2015 Share Posted September 1, 2015 Nope, sometimes you get a week, sometimes it's on demand when clearing into the country is my understanding. I know of a boat recently in Nelson who got a week, and another in Opua who had to pay immediately... I fail to see why you would be allowed a year or two. Quote Link to post Share on other sites
Cabrinha06 0 Posted September 1, 2015 Author Share Posted September 1, 2015 Because some people are in the country only few months. For example, someone who sailed to NZ and is in the country for a while, working before going again. I know that in this case, customs make you sign a paper where you agreed to pay the GST after a certain amount of time if the vessel is still in the country Quote Link to post Share on other sites
Island Time 1,211 Posted September 1, 2015 Share Posted September 1, 2015 If you are a NZ resident or a citizen, and bring a boat you own into NZ you will be required to pay GST and duty (if applicable) upon arrival. If you are a foreign national, you get a TIE (Temporary import exemption) the time of which is usually 3 months, but can be extended to a year or more if, for example, you are having major work done to the vessel here. After that time, if you wish the vessel to remain here, you have to pay. Full details of this are available from Customs. It's pretty clear. If you live here, and bring in a boat that is not NZ built, or has not already had the tax paid in NZ, you have to pay on arrival. Quote Link to post Share on other sites
Cabrinha06 0 Posted September 1, 2015 Author Share Posted September 1, 2015 Thanks Island Time!! I'am, indeed an Australian Citizen. Quote Link to post Share on other sites
Pelagic Mountie 4 Posted September 2, 2015 Share Posted September 2, 2015 I've wondered about all of this myself. So are we saying GST is payable even if tax has previously been paid on the boat in the country of origin? Quote Link to post Share on other sites
Pelagic Mountie 4 Posted September 2, 2015 Share Posted September 2, 2015 Thanks, but I mean is NZ GST payable even if tax in original country such as UK (VAT), Europe, US etc has already been paid? Quote Link to post Share on other sites
Island Time 1,211 Posted September 2, 2015 Share Posted September 2, 2015 Yes. Tax paid in another jurisdiction is irrelevant. You are importing into NZ.... Quote Link to post Share on other sites
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