Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 18-05-2009, 03:44   #1
Registered User

Join Date: Nov 2008
Location: Whangarei NZ
Boat: Hartley Southseas 39 - Rhombus
Posts: 34
UK Registered Boat / NZ Owner / Tax Problems?

Hi all, I might have a problem and am hoping someone can help me. I have a yacht I brought in NZ and it had never previously been registered in NZ. I registered it under small ships (UK) and I am sailing up to the pacific islands next month and after that all going to plan onwards around the world, step by step over a few years.
My question is since I am registered in the UK will I have to pay a tax on the cost of the boat when I finally get to Europe. Or even shorted term will there be a problem leaving NZ. I have a proof of purchase recept from the guy I brought it off so I can prove I brought it in NZ so I might not have to pay GST on the way out?
Anyway I will leave it at that and see what you think any help appreciated.
John Lee Diamond
__________________

__________________
Jdiamond is offline   Reply With Quote
Old 18-05-2009, 05:07   #2
Registered User

Join Date: May 2009
Location: Bundoora, Victoria, Australia
Boat: working towards a Lightwave 38
Posts: 37
I could be wrong but I would have thought that the yacht would be GST exempt from the NZ side. You would however cop VAT at the other end and any other costs they have when you eventually got home. I presume this would be on the depreciated value of the yacht not what you paid for it.

A link to the NZ tax office is below with the relevant details.

QB 07/01 Zero-rating of supplies of sail-away boats - use as security or offered for sale (Questions we've been asked)

Craig

Note. The NZ tax site is a hell of a lot easier to navigate around than the Australian Tax Office web site.
__________________

__________________
1960cjj is offline   Reply With Quote
Old 18-05-2009, 05:11   #3
Registered User

Join Date: May 2009
Location: Bundoora, Victoria, Australia
Boat: working towards a Lightwave 38
Posts: 37
Sorry John, I should have also said, have a great trip.

cheers
Craig
__________________
1960cjj is offline   Reply With Quote
Old 18-05-2009, 11:00   #4
Registered User

Join Date: May 2009
Location: Bundoora, Victoria, Australia
Boat: working towards a Lightwave 38
Posts: 37
John, just realised I read the thread incorrectly. You are a NZ resident. You need to speak to a tax agent.

cheers
Craig
__________________
1960cjj is offline   Reply With Quote
Old 18-05-2009, 12:56   #5
Registered User
 
Nauticatarcher's Avatar

Join Date: Jun 2007
Location: Mooloolaba, Qld
Boat: Islander Freeport 36
Posts: 396
Shouldn't be any gst on a secondhand Yacht, and instead of a receipt you should get a registerable Bill of Sale, You will more than likely cop import duties and taxes when you arrive home depending on your country
__________________
Nauticatarcher is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Property Tax on My New Boat ! jazzsailor Dollars & Cents 111 06-06-2012 14:54
Registered boat name/hailing port Jack Long Rules of the Road, Regulations & Red Tape 10 13-09-2008 15:23
ownership, registrations, tax etc etc etc, (future boat owner) liquido Dollars & Cents 1 20-07-2008 06:00
California Boat Tax tardog Dollars & Cents 4 09-06-2008 12:15
New boat owner dksailing Meets & Greets 7 09-01-2007 13:58



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 15:34.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.