southbound
18th January 2008, 09:55 PM
Firstly let me appologise if this question, or this type of question has already been asked. I searched the forum, but couldn't find it. Secondly let me apologise if this is in the wrong section.
We are actually NZ citizens (though I haven't lived there since I was born) who have been living in the UK for 10 years, and are now british citizens, and I thought I might have more success in getting clarification on this issue on this forum than I've had with the NZ customs people.
We are planning on sailing our yacht back to NZ (over a period of 18months or so). I'm trying to find out how the rules work (and duties/taxes etc) for things like this. When I was last in auckland I spoke to a yacht broker who said that he often sells boats that people have brought in as a "chattel". He said something to the effect that if the vessel enters the country at the same time as the individual, and it is held in the country for 12 months or 2 years (cant remember) then it can be on sold without having to pay any gst, duty or taxes etc.
Does anyone have any experience with this kind of thing?
I have many questions about this but here are some of them.
a) does the vessel have to enter the country at the same time as the individual. (ie could we leave it in Europe for a few years and sail it back then).
b) what about other belongings. We'll be packing everything up here and sending it back (or storing it depending on the answer). Do we have to arrive in the country at the same time as all our other stuff (including a car), with the boat? Or could we move everything back, pop to nz for a holiday to receive the other belongings and store them, then come back to the UK to sail home. - or could we MOVE back to nz, then come back to the uk and sail back over a couple of years.
c) would the vessell have to be held in one of our names. At the moment it is owned by a company - as a means of avoiding vat, but would this cause a problem with bringing it in as a personal chattel.
d) do we have to have paid vat/tax somewhere in the world to qualify for tax free status in nz? I know that if we buy it in the UK to export then we dont have to pay vat, but think that we might have to "import" it somewhere from the UK's point of view at the same time that we export it from the uk??
e) what are the specifics of the rules about how long we have to own the boat for before we bring it, and how long we have to hold it in nz before we can sell it.
f) could we register it as a NZ vessel now, and then avoid all this nonsense when it finally enters NZ in 2 years time.
g) If we did have to pay duty, and tax etc and chose not to import the boat, how long could we keep the vessel there as a foriegn registered vessel? And how long would we have to take it out for, to reset that period. (ie could we just take it into international waters, then come straight back)
Is there/are there specific companies/agents that could help with all these questions.
Hope someone can help, or direct me towards someone who can help.
thanks
southbound
We are actually NZ citizens (though I haven't lived there since I was born) who have been living in the UK for 10 years, and are now british citizens, and I thought I might have more success in getting clarification on this issue on this forum than I've had with the NZ customs people.
We are planning on sailing our yacht back to NZ (over a period of 18months or so). I'm trying to find out how the rules work (and duties/taxes etc) for things like this. When I was last in auckland I spoke to a yacht broker who said that he often sells boats that people have brought in as a "chattel". He said something to the effect that if the vessel enters the country at the same time as the individual, and it is held in the country for 12 months or 2 years (cant remember) then it can be on sold without having to pay any gst, duty or taxes etc.
Does anyone have any experience with this kind of thing?
I have many questions about this but here are some of them.
a) does the vessel have to enter the country at the same time as the individual. (ie could we leave it in Europe for a few years and sail it back then).
b) what about other belongings. We'll be packing everything up here and sending it back (or storing it depending on the answer). Do we have to arrive in the country at the same time as all our other stuff (including a car), with the boat? Or could we move everything back, pop to nz for a holiday to receive the other belongings and store them, then come back to the UK to sail home. - or could we MOVE back to nz, then come back to the uk and sail back over a couple of years.
c) would the vessell have to be held in one of our names. At the moment it is owned by a company - as a means of avoiding vat, but would this cause a problem with bringing it in as a personal chattel.
d) do we have to have paid vat/tax somewhere in the world to qualify for tax free status in nz? I know that if we buy it in the UK to export then we dont have to pay vat, but think that we might have to "import" it somewhere from the UK's point of view at the same time that we export it from the uk??
e) what are the specifics of the rules about how long we have to own the boat for before we bring it, and how long we have to hold it in nz before we can sell it.
f) could we register it as a NZ vessel now, and then avoid all this nonsense when it finally enters NZ in 2 years time.
g) If we did have to pay duty, and tax etc and chose not to import the boat, how long could we keep the vessel there as a foriegn registered vessel? And how long would we have to take it out for, to reset that period. (ie could we just take it into international waters, then come straight back)
Is there/are there specific companies/agents that could help with all these questions.
Hope someone can help, or direct me towards someone who can help.
thanks
southbound