Hello to everyone, I have a question.
If I buy a yacht abroad and am living permanently on board overseas, if I'm coming in to visit Australia every couple of years cruising for a few months and then departing again would I be liable to pay tax and duty on the yacht?
Cheers
It depends:
Are you a Australian citizen/permanent resident? If your an overseas citizen probably not.
In either case, depending on what immigration/customs know about your history, they may require you to fund a refundable deposit - refundable when you leave. Because they believe your real intention is to sell, then leave.
But it is unlikely, if you contact customs first, and ask their requirements and follow their advise.
