[mhh]

It's a lot easier to store it in the UK and take half a dozen trips there each year to use it. That way you also don't have to pay the government 33% LCT for the privilege either so it can also end up cheaper.

Even better is to get a LHD one and keep it in Germany...

To avoid the LCT, i think you have to live 12 months in the country and not just visit it.

[bobbo]

To avoid the LCT, i think you have to live 12 months in the country and not just visit it.

Bit more complex than that MHH. You have to pay LCT if you're an individual (private buyer) who imports a luxury car. LCT applies to sales of cars by GST registered vendors that are two years old or less. A car is more than two years old at the time of the sale if it was manufactured locally or imported more than two years previously.

I was meaning that you could simply buy a car in UK/Europe, not import the car into Australia ever and use it as an excuse for a regular trip to say hello to it.

Or you could register as a MV Dealer and defer the LCT and then play the two year game...

[goober]

To avoid the LCT, i think you have to live 12 months in the country and not just visit it.

Race cars are easier, 5% duty plus GST and if you bring it in using an ABN you can claim back the GST

[mhh]

I was meaning that you could simply buy a car in UK/Europe, not import the car into Australia ever and use it as an excuse for a regular trip to say hello to it.

Got it. Sounds like a plan.

[shack]

Got it. Sounds like a plan.

You up for that

[mhh]

You up for that

It's worth thinking about.

[anotherforumuser]

It's a wonder that no one on here ever thought of doing that before.

[bobbo]

It's a wonder that no one on here ever thought of doing that before.

Us accountants are always trying to find ways to save money and minimise taxes paid