Importing a boat to Australia.

[Nauticatarcher]

An Australian citizen can not own a foreign registered boat, as registration bestows nationality on a vessel only citizens of the country of registration can own it, if buying a boat in the States that is in US Coastguard Registration you have to have it removed from there register and then registered in Australia before you can proceed offshore, this process alone could take 3 months, then as an a Australian registered vessel arriving in Australia for the first time you will be liable to taxes and duties on arrival, it is still possible to get a good deal but you need to do your homework and costings carefully

[MarkJ]

Originally Posted by viking69

the other thing you may want to look into is this. Unless they have changed the law you used to be able to put your foreign regestered boat up for sale and then the import duties etc were only payable upon sale of the boat. .

things have changed. Even if you want to bring a boat here to charter you have to pay GST on the whole value of the boat. look at www.customs.gov.au its all in there

Your figures are fine with the $60k for the boat etc... but is that US dollars? or AUD?

Say you do make $60k (either US or AUD) profit (and I don't see how you can) you can only do that at most once per year, so if a couple do it that makes an anual salary of $30k each before tax, say $20k after tax.

Would you sail a $60k boat half way across the world?????????????

Even WojosIsland hopping takes him through 2 (or 3) cyclone areas (hurricane, call them what you will) Hawaii West pac, North east pacific and south west pacific. Thats not for the feint hearted in less than a year.

Look, if you want to buy a cheaper boat and go for a cruise, thats a great idea! But as a money making enterprise its different. Even the cost of money (finance or your own cash) needs to be risk factored as you won't be able to get insurance. So on your $60k profit your accountant will wnat 30% ROI after tax, so that takes your anual salary down to $10k each......

[viking69]

if you read my post properly you should see that i said making money was second to getting the boat over there to sail back. The sail being the thing i am intersted in most. No i did not say i could make 60k profit. i said what is for sale there for 60k is 120k here. i have listed other costs as well. As for would i sail a 60k boat around the world. YES definately. i paid less then that for the boat i have now and it has sailed from the US to here and i would happily sail it anywhere. Also what is the difference between living/sailing in a hurricane area anywhere in the world when i live and sail in one now. All year round.
To be honest as a money making scheme i am sure there are far better ways. I think boats would have to one of the hardest things around to make money on. But can anyone put a price on the enjoyment you get out of sailing one to a remote area. And if you can get one for a bargin price to start with even better. But yes i agreee with what most people have been saying watch out for all the hidden costs.

[MarkJ]

Originally Posted by viking69

. i paid less then that for the boat i have now and it has sailed from the US to here and i would happily sail it anywhere.

Also what is the difference between living/sailing in a hurricane area anywhere in the world when i live and sail in one now. All year round. .

Just covering all the bases that some people might not have. Sort of being Devils Advocate
I wasn't having a shot at you


Mark

[Wojo]

Originally Posted by Nauticatarcher

An Australian citizen can not own a foreign registered boat, as registration bestows nationality on a vessel only citizens of the country of registration can own it, if buying a boat in the States that is in US Coastguard Registration you have to have it removed from there register and then registered in Australia before you can proceed offshore, this process alone could take 3 months, then as an a Australian registered vessel arriving in Australia for the first time you will be liable to taxes and duties on arrival, it is still possible to get a good deal but you need to do your homework and costings carefully

Interesting point Nauticatarcher...I'll have to look that one up. I don't want to get caught out by bureaucracy. First time it has come up...many thanks.

That's whats great about these forums. You have a wealth of knowledge to refer to.

cheers

[Wojo]

Originally Posted by viking69

my figures when I was looking at this option were more like this.
for a boat in the 38-42 foot range


purchase price: 60000
flights : Free work will pay :-)
Accomadation: about 20 a night in backpaker or cheap arse pub
delivery : 10000 my own expenses for the trip with free crew
improvements : 0 buy a boat that is suitable but lets say 5000 anyway
government fees: 15000
the thing is the boats i can see for around the 60k mark are worth easily 120k here. Also for me the idea of the trip to sail it here would be the main focus not just buying a boat there that is cheaper. That is just a bloody good bonus. I am however on the tight side when it comes to forking out money but i do not want all the luxeries like water maker, air conditioner etc etc I just would buy an older fiberglass boat that is a sound blue water cruiser not a floating penthouse

That's exactly my strategy Viking. I hope to do all I can from OZ....fly over there, courtesy of work, which will save me airfares I have somethings to do there, work related, for 3 months and then I'll sail her back.

The only difference is the boat I'm looking at is $25KUS. Actually I have about 6 in mind between 20k to 35k US....so I'll be very busy on my weekends there..lol

Referring to what you said about boat prices, Viking. Just for example, a 36' FARR 1104 can be bought in OZ for between 75k to 90kAUD (check it out in Boatpoint). There is one in California for 10kUS. Yes it floats and needs a bit of TLC.....but what an adventure.

[Boracay]

Wojo
You do plan on getting a seaworthy boat?
For $10k?
Thar be adventurous and thar be ....

[Wojo]

Originally Posted by Boracay

Wojo
You do plan on getting a seaworthy boat?
For $10k?
Thar be adventurous and thar be ....

harrrr......lol....mm..well I figure if you can row across the Pacific I'm sure this thing could sail across it.......lol....but anyway it's not the boat I was after but I was using it as an example.

[Boracay]

Every man and his dog wants a boat over 30'

I cannot write from experience but my feeling is that these boats might be suited to limited cruising.

Other Forum members may have better knowledge.

As with everything marine you must make your own enquiries to ensure that they are suited to your intended purpose.

Cavalier 26

Compass 28

25' Custom steel

[Ex-Calif]

Originally Posted by Nauticatarcher

An Australian citizen can not own a foreign registered boat, as registration bestows nationality on a vessel only citizens of the country of registration can own it, if buying a boat in the States that is in US Coastguard Registration you have to have it removed from there register and then registered in Australia before you can proceed offshore, this process alone could take 3 months, then as an a Australian registered vessel arriving in Australia for the first time you will be liable to taxes and duties on arrival, it is still possible to get a good deal but you need to do your homework and costings carefully

This can't be true in all cases. I am a resident US citizen in Singapore and I definitely own a foreign registered (Singapore) boat.

I haven't looked into all the details but if the boat is registered in Singapore already there is no sales tax (GST) - Singapore does not charge GST in used stuff transfers within Singapore.

Importing a boat however is subject to 7% GST.

One option to consider is "retiring" in Thailand or Malaysia. Cat Man Do might like the Malaysia option. Plenty of nice marinas and although muslim Malaysia is very religion tolerant and has a very stable government with very decent legal systems. Property ownership laws are clear as opposed to Thailand where a couple of friends have done bad deals. The Philippines, unfortunately, while very friendly and English speaking, is a disaster in regards to property ownership and legal systems.

One thing to investigate is taking up retirement residency in a foreign country like Malaysia and importing the boat there. What's the Aussie government stance on a boat sold "outside" the country.

i.e. If I buy a boat in Australia for immediate export - Do I pay sales taxes in Australia?

What if I take delivery off-shore? This is pretty common. Sail the boat out of Australia waters and move it to a second country.

I'd like to consider boats from Oz and this would be good to know.

BTW - Sales taxes on used goods is the stupidest thing governments do.

Here's a link oe two to Malaysia retirements.

Malaysia my second home program get second citizenship, retire, live in Malaysia

My Malaysia - MALAYSIA: An Asian Retirement Paradise - Vacation

[shadow]

"BTW - Sales taxes on used goods is the stupidest thing governments do."

I totally agree!! Just another way for agencies to get free money for doing nothing!! Tax has already been paid for it many times over before being sold and then when used, taxed again!! PLEASE!! Blatant misuse of power in my opinion.

[Nauticatarcher]

There is no sales tax on secondhand boat sales in Australia
"This can't be true in all cases. I am a resident US citizen in Singapore and I definitely own a foreign registered (Singapore) boat."
This might be OK if your'e just using it in Singapore but what happens if you want to sail it internationally?

[viking69]

Ok this may be a little different being that it is comercial. But the company i work for (an Australian company) owns some foreign registered ships that work in Australia all year round they only have to do one international trip a year wich is only to New Zealand and back to be able to keep their rego foreign.

[Wojo]

Originally Posted by Nauticatarcher

An Australian citizen can not own a foreign registered boat, as registration bestows nationality on a vessel only citizens of the country of registration can own it, if buying a boat in the States that is in US Coastguard Registration you have to have it removed from there register and then registered in Australia before you can proceed offshore, this process alone could take 3 months, then as an a Australian registered vessel arriving in Australia for the first time you will be liable to taxes and duties on arrival, it is still possible to get a good deal but you need to do your homework and costings carefully

Thanks for bringing that point up. I checked with the Californian Yacht Brokers Association and they stated that as a non-citizen I could still purchase and sail out a US registered vessel...or register it as an OZ boat...depending on which tax strategy was more favourable to me.....

cheers

[shadow]

Is it possible to purchase a boat, let's say in France and then just sail it around for several years since you are retired and plan on living on the boat?? Meaning, you sold everything here in OZ and really not sure where you want to end up. How does that work?? Are you still required to choose your country of passport then even though you really have no intention of going back??

The crew would literally be in limbo since they are retired and have absolutely no schedule or place to be. They would travel the world and see where it best fits their lifestyle or perhaps just keep moving.

Not sure how that would work.