Hi All, bit of an obscure question this one.
If you buy an Australian built boat from overseas, and bring it back into Australia, do you still pay import duties and GST on the boat?
The scenario I'm thinking of is a racing yacht that was built and raced in Australia before being exported for world championships many years ago, and while there, being purchased and staying in Europe.
It might be nice to get it back to Australia but I'm unsure of what applies.
Thanks
Geoff
I looked into this last year when I considered buying a boat built in Mackay but was laying in Vanuatu. Apparently, when the boat leaves Australia, the GST can be claimed back (the boat I was considering was flagged in Vanuatu). If you are to then bring the boat back into Australia, then GST is applicable. What happens if the boat is older then the GST system is in Australia I wouldn't know. This wasn't obtained from the ATO or an accountant.
Its a tricky one. Whether the boat was exported before the GST came in in 2000, and if there is documentation of the original purchase in Australia. Once you have all the anwers, the ATO and Australian customs can be consulted, and a ruling obtained.
Yeah, definitely pre-GST, not looking at a specific boat but a group went over to Europe late 80's early 90's.
Not happening immediately so I have a while to look into it, it just struck me as an interesting question.
Another one that nearly caught me out was a charter boat that was for sale. The agent advertised a price that was juuuuust inside of my budget if I really stretched it. The boat was available to remain in their charter fleet or could come out for private use - my preferred option.. Well then came 'the other' price. I didnt realise that commercial operators are able to have the GST refunded. Because the good ol government didn't get their share, they put their hand back out when the boat comes out of commercial use.. This new rice put me well over budget.
Why do we need a complicated system, or why is the broker allowed to hide the true price (or at least the facts) until he almost has a sale.
If it's pre-GST, the boat should have left Australian shores with an Export Entry. This will still be in the Australian Customs database....somewhere.
If you can cite that Export Entry, the boat should not be liable for import and entry dues.
A Customs Agent/Broker (not a Customs Officer) will be able to assist you.
Not hard, "purchased and staying in Europe"
So presumably purchased by a non resident
Nothing special here.
full rates apply.
Different if never left Australian ownership as there is a way a way around.
A very rare win for the taxpayer but very lucky facts!!
Baxter v. Commissioner of Taxation [2002] FCA 1256
Like I said, the vessel will have had an Export Entry, regardless of 'overseas intentions' . See a Customs Agent/Broker for the RIGHT STORY.
