Selling OZ registered boat in N Z to an Australian

[ozmike]

I have an Australian registered yacht in NZ, was built in NZ but has been in Australia for nearly 30yrs, an Australian living in NZ wants to buy it and keep its Australian registration to avoid cat 1 hassles every time he goes to the islands, the boat by the way is pretty much up to cat 1 anyway, I gather it still has to be imported but as it’s NZ built there is no duty to pay and as I have owned it 10 yrs I get 75% depreciation on the price I bought it for, questions are does it still have to be imported and can it keep Australian registration?

[RaymondR]

The administering authority for Australian registration is AMSA and as long as you have an Australian address for either the owner or the agent I don't think they care where the ship actually is.

On the duty thing, I think there are time limits but suspect that it involves where the boat is and has been cleared out and in and originally imported. I'd go find a non government authority for advice first, they're greedy bastards and if you ask them they'll find a way to make you pay no matter what. Be mindful that their may also be the question of state stamp duty because of the place of sale.

[cj88]

To be eligible for Australian registration you need to be either an Australian citizen or an Australian resident so the purchaser can retain Australian registration.

If it is going to remain in NZ for more than 2 years from when it entered the country or you sell it within that period then it will need to be imported. If you have entered into NZ with the boat and if you dispose of it in NZ then it is automatically deemed to be imported and you will be liable for associated costs. If you sailed it back out of the country first and completed the sale elsewhere it won't need to be imported. Of course, if the new owner enters the country with it and then goes back offshore within two years of entering the country with it then the clock would start again from scratch when he next re-enters NZ.

It comes down to would you be willing to deal with taking it out of the country, completing the sale elsewhere and him re-entering the country to avoid importing it?

[Neptune's Gear]

IIRC any vessel entering NZ owned by a NZ citizen OR resident is charged duty and GST if applicable immediately.
Best to speak with NZ customs though, they will have the vessel on record.

[cj88]

Yes, you're right. I forgot it also applies if he is a permanent NZ resident.

[ozmike]

Thanks everyone, as far as I know he’s not a NZ citizen and has an address in Australia, got a reply back from NZ customs, they weren’t interested in how long it had been out of the NZ,
“The vessel will be subject to Goods and Services tax (15%) on importation (free of Customs duty if manufactured in New Zealand). The GST is payable on the purchase price of the vessel minus depreciation of 10% for each year the vessel is personally owned and used (to a maximum of 80%). Your shipment will also be subject to an Import Entry Transaction fee of $52.67 NZD.”
So based on that I only have to pay about $3k.

[Dooglas]

Nothing wrong with seeking guidance from others. Just remember that they may well know little more than you. If I were selling an item of personal property (such as a boat) with a value over $100K, I would be working with an expert to be sure I followed the correct procedures and protected myself during the transaction. I presume there are marine title or documentation companies in Australia and New Zealand, just like there are in the United States.