Farr 1220 under $100k

[Guest]

http://au.yachtworld.com/boats/1987/Far ... ted-States

[ab1974 1]

Even with shipping (if you didn't have time to sail her home), customs and GST that would still be a very cheap boat landed. Wonder if it has ever had NZ GST paid when first launched?

[Guest]

My first thought was to sail it around a while before coming back. Plus I've been looking at what else is available in that part of the world in terms of second hand cruisers, and performance wise this boat would kill most of them.

[ab1974 1]

That would be the ideal I agree. The sale in NZ would pay for the return cruising plus any maintenance / extras needed to get it ready for a Pacific crossing.

[Guest]

Reading the ad it has already done a lot of ocean miles, just completed trans Atlantic, so hopefully not too much prep to be done.

Just looking at displacement for your "average " ocean walloper around 40 ft is 18-20,000lbs , the farr is 12,000.

[smithy09 50]

Wot a bargain! It has some kit on board as well. Watermaker, B&G, Mast displays.. Wind gennie, Shorepower...Looks pretty sound at first glance, could be a good little adventure for someone.

[Guest]

Hi all,

 

That's a nice site - thanks for the link. I'm contemplating purchasing an off-shore capable boat, and there are a couple on there that have grabbed my attention.

 

Being a bit new to this - can someone summarise the costs of bringing a boat back? and if one can get around them? Ie. is a leisurely holiday cruise home different from "importing"?

 

(Or if someones buying this one let me know if you need crew ).

 

Cheers

Paul

[Fusion 0]

Could you not register off shore, then cruise for a while. When you return to NZ you have 18 months? before you need to import it so you could sell it internationally for some one to cruise the pacific?

[Fogg 427]

Yeah my understanding is that there are few loopholes (sorry, options) for avoiding paying full import duty on day 1. And I think that if you've got a foreign passport that helps the cause too by extending the time before "pay the duty or leave" day arrives.

[Guest]

Could you not register off shore, then cruise for a while. When you return to NZ you have 18 months? before you need to import it so you could sell it internationally for some one to cruise the pacific?

 

Dropped to 12 months if you ask nice but is being aligned with something which means they will be dropping again. You can ask for an extension, which is usually granted if you have a 1/2 decent reason. They seem to be trying to align it with something that revolves around September, knot sure what that's about but getting 12 months isn't as automatic as it was a few short years ago.

 

If you are a returning NZ citizen and can demonstrate the boat is a BIG part of your existence i.e you live on it, you could try asking real nice and you may get the GST waived as long as you promise knot to sell it for at least 2 years. They are quite keen on getting the duty still though by the looks.

 

There are fixed rules but Customs certianly does seem to be more than far, reasonable and has some flexibility........ as long as you are also.

 

They are cracking down big on multiple TIE's (Temp Import Exemptions) for NZ based boats that just pop out of the country for 2 weeks and then come back resetting the clock. I know a couple who have been told, next time you leave and return you won't be given a TIE, it's pay up time. Mind you those boats have been pushing the system for many years already so it's no surprise Customs have finally pulled the pin on them.

[Guest]

Stupid, let them stay as long as they want= they'l put more into the gov't coffers that way than extorting some pittance in tax.

[Fusion 0]

Yes KM. I think the 18 months is based on a 12 + 6. If you arrive Oct, Nov as lots do from the islands, 12 months later it is Cyclone season not safe to leave so you can get a +6 April May departure.

[Guest]

Stupid, let them stay as long as they want= they'l put more into the gov't coffers that way than extorting some pittance in tax.

 

We see a lot of TIE's at work. If a offshore boat can give us one we don't have to charge them GST.

 

But being nosey we read them all so I can assure you Mr Squid most of the numbers wouldn't be called a pittance. Remember a $1 mil cruiser isn't hard to find these days and 12.5% of that is $125K then add Duty at 5%, another 50K and the pittance is actually $175,000. A 250K boat still comes in at $44K in GST and Duty. I think the largest sum we have seen due to be paid if the boats stays was over $3.4 Million. It was a big boat and probably just chump change for the owner but still a decent sized number.

 

Mind you we aren't in the real estate game and we all know you lot earn moonbeams so a pittance to us is a lot smaller number. Don't you wish

[Guest]

But no one ever pays it so it is a pittance. Instead they all leave, as opposed to staying here and eating out, renting cars, going to movies, staying at motels, having family/friends fly in to visit................

 

 

 

 

Yeah - I wish.

[ab1974 1]

Just to come back to the original post in the thread, the Farr 1220 is now under contract. No surprise there I guess. Good deal for someone - be interesting to see where it ends up!

[Guest]

Is Duty 5% of purchase price of vessel, and GST 15% of purchase price + shipping cost ?

 

KM, do you know ?

[Guest]

What was the price on that Farr 1220?

 

Does anyone know.If you pay import duties/gst and then take the boat back out of the country a couple of years later,will they refund the taxes?

[Guest]

Hi Nonam, I admit to getting a bit impatient, and searched back through previous threads on this site. Found back in April this year a thread titled 'Import Tax' which answered my questions, and should do the same for you.

Good to know we have 'Pales' to call on in the future too.

John.

[Guest]

No,I dont think we covered refunds.If you bring a good boat in and are not desperate to sell it.It would be nice to get a good price but otherwise you will keep it and continue cruising.As I understand it,you are not allowed to test the market before you pay the taxes.You are not allowed to think about selling before you pay taxes.But if your boat doesnt sell and you take it back out of the country,you should get a refund.But I dont know if its 100% refund and I dont know if they put a time limit on claiming it.Someone knows.