When do they calculate GST?????

[mjb0015]

Hey everyone, been a while since last on the forums, got a question, when do they calculate the GST charges? is it when the car leaves port or when on the day the job is invoiced?


mjb

[ponyride]

I think it's calculated when it arrives here, the exchange rate at that time which sucks if you have something arriving about now.

[S[_]SPECT]

It REALLY depends on the interpretation made by the person doing it..
However it is supposed to be calculated on the exchange rate @ time of export... which is commonly taken from the date of loading on the paper work..
Irrespective of exchange rate when it was bought, or when it lands.. it 'should' be calculated at this rate.. however, this is one of those 'how do you read this'.. things.

[Pedro]

Hey everyone, been a while since last on the forums, got a question, when do they calculate the GST charges? is it when the car leaves port or when on the day the job is invoiced?


mjb

Its supposed to be on the day the ship leaves the port.
And don't forget that you pay GST on "what you paid" for the car in the USA. Canberra's asking for bill of sale.

[mjb0015]

well the broker that is doing a car I am picking up in Adelaide is charging the GST rate when the car is invoiced by them, this is the first I have heard of this, I always believed is was calculated when the car leaves port!!!!! This is really crappy as the dollar rate was $1.08 to the US compared with now 92 frickin cents.....

mjb

[dalex]

You are supposed to pay GST on shipping and insurance as well.

I have a guide from Customs called “Guide to the importation of privately owned motor vehicles or motorcycles”. A couple of excerpts from this, Customs Duty does not apply for cars older than 30 years.


For Vehicles Purchased on or after 2 March 1998
Customs value is calculated in the following manner:
First, take your purchase price in the foreign currency and add to that the cost of any modification or improvement work done on the vehicle. Do not add the cost of routine maintenance or repairs for normal wear and tear.
Next, the purchase price is converted to Australian dollars using the official rate of exchange on the date of export of the vehicle from the place of export.

DETERMINING THE VALUE OF THE TAXABLE IMPORTATION (VoTI)
The VoTI is the sum of:
the customs value; and
the customs duty; and
the amount paid or payable:
- for the international transport of the vehicle; and
- to insure the vehicle for transport (to the extent that the amount is not included in the customs value).