Bringing the boat home

[john murfet]

I have purchased a boat overseas and because I'm Australian I took out an Australian registration for it.
Now after 10 years of cruising it is time to return home and import my boat.

A New Zealander in this position would have the original boat price devalued by 10% per year to a maximum of 8 years and pay GST and import duty only on the residual value.
Does anyone know if there is a similar scheme in Australia for long term owners?

[StuM]

https://www.border.gov.au/Trav/Ente/...orting-a-yacht

Privately imported yachts are generally valued using the transaction method of valuation when purchased overseas new or second-hand for export to Australia. Circumstances where we may use an alternative method of valuation include such situations as where:

• the yacht was constructed by owner/labour;
• the yacht has been extensively modified since purchase;
• the purchaser and vendor are related parties and that relationship has influenced the purchase price; or
• the original purchase price is too far removed in time.

In these instances the yacht will have to be valued by a marine surveyor in Australia. This valuation will be based on the market value and as such will include elements such as customs duty and GST. We'll have to deduct these elements plus overseas transport from the local valuation.