TwoHeadsTas Posted 8May, 2018 Report Share Posted 8May, 2018 Contained in last night's Federal Budget - suspect this will have limited application, and is not the desired removal of the LCT that is hoped for by enthusiasts..... Removal of luxury car tax on re-imported cars following refurbishment overseas The luxury car tax on cars re-imported into Australia, following a refurbishment overseas, will be removed from 1 January 2019. Currently, cars that are refurbished in Australia are not subject to luxury car tax. However, cars exported from Australia to be refurbished overseas and then re-imported are subject to the tax where the value of the car exceeds the relevant luxury car tax threshold. The inconsistency in tax treatment of refurbished cars will be removed in order to align with Australia’s trade obligations with its foreign trading partners. This measure will ensure the same tax treatment applies, regardless of where the car is refurbished. Source: Budget Paper No 2, p 38. Link to comment Share on other sites More sharing options...
edgy Posted 9May, 2018 Report Share Posted 9May, 2018 SINGER!!!!! Link to comment Share on other sites More sharing options...
Andy73 Posted 9May, 2018 Report Share Posted 9May, 2018 Alrighty, time to find me a 964 C2... Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 9May, 2018 Author Report Share Posted 9May, 2018 26 minutes ago, edgy said: SINGER!!!!! Hadn't thought of that. Perfect option..... 24 minutes ago, Andy73 said: Alrighty, time to find me a 964 C2... Might be a few here that they haven't bought up? Link to comment Share on other sites More sharing options...
edgy Posted 9May, 2018 Report Share Posted 9May, 2018 7 minutes ago, TwoHeadsTas said: Hadn't thought of that. Perfect option..... Given the average Singer build runs about USD 500K it’s an LCT saving of about AUD $250k alone, that’s just on the build portion, as I’m sure they currently want to revalue the whole thing, ie donor car + works carried out = taxes payable. Sounds like you’d pay the GST on the works still, but it’s a game changer for sure! Which begs the question, who is going to be first Singer in AU? Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 9May, 2018 Author Report Share Posted 9May, 2018 4 minutes ago, edgy said: Given the average Singer build runs about USD 500K it’s an LCT saving of about AUD $250k alone, that’s just on the build portion, as I’m sure they currently want to revalue the whole thing, ie donor car + works carried out = taxes payable. Sounds like you’d pay the GST on the works still, but it’s a game changer for sure! Which begs the question, who is going to be first Singer in AU? I've got a mate who's looking for a 246 Dino, but is put off by the LCT impact on the pricing - owners upping the price to include the LCT even though they wouldn;t have to pay it on to the ATO. Whilst he already has a 964 supercharged backdate, I might suggest he considers another 964 to do the Singer thing (it would be a shame to destroy his existing car).... Link to comment Share on other sites More sharing options...
symsy Posted 9May, 2018 Report Share Posted 9May, 2018 Question is .. what would you pay for a Singer .. or is it a keepsake If you have the money to build .. you would just go buy an aud deliv car no?? and sell off your parts , strip before it leaves.. you would definately not want . Interesting excercise .. whats a 130k C2 coupe worth stripped and then sent overseas and Singerfied.. what would you sell off.. Maybe a way for me to solve my parking problem , squeeze the three cars into one… GT3/993/964 Link to comment Share on other sites More sharing options...
Andy73 Posted 9May, 2018 Report Share Posted 9May, 2018 1 hour ago, symsy said: Question is .. what would you pay for a Singer .. or is it a keepsake If you have the money to build .. you would just go buy an aud deliv car no?? and sell off your parts , strip before it leaves.. you would definately not want . Interesting excercise .. whats a 130k C2 coupe worth stripped and then sent overseas and Singerfied.. what would you sell off.. Maybe a way for me to solve my parking problem , squeeze the three cars into one… GT3/993/964 Wondered when you'd weigh in on this... Link to comment Share on other sites More sharing options...
edgy Posted 9May, 2018 Report Share Posted 9May, 2018 2 hours ago, symsy said: Question is .. what would you pay for a Singer .. or is it a keepsake If you have the money to build .. you would just go buy an aud deliv car no?? and sell off your parts , strip before it leaves.. you would definately not want . Interesting excercise .. whats a 130k C2 coupe worth stripped and then sent overseas and Singerfied.. what would you sell off.. Maybe a way for me to solve my parking problem , squeeze the three cars into one… GT3/993/964 I don't know the answers, but two issues I see with Singer is; 1) IF you use an Aussie delivered car, it no longer has global market appeal, its limited market is Australia and other RHD nations only really. 2) The more prolific Singer is, surely this cannot be good for values in long term? Needless to say if you're a Singer client, you are generally not worried about any of the above as its probably a small % of your net worth anyway. Link to comment Share on other sites More sharing options...
Andy73 Posted 9May, 2018 Report Share Posted 9May, 2018 I'm not sure there's any danger of Singers becoming that prolific that the values drop is there? They're hardly pumping them out! And, as you point out, if you're a Singer customer, chances are you're not short of a quid regardless.. Link to comment Share on other sites More sharing options...
Raven Posted 9May, 2018 Report Share Posted 9May, 2018 Good to see we all think alike ..........................SINGER And I was prepared to pay the $750 K .........IF......? Link to comment Share on other sites More sharing options...
symsy Posted 9May, 2018 Report Share Posted 9May, 2018 Now we have kinda sorted the value conversation out and we are cutting up a Aus Sacred cow deliverered model.. And we could always convert a RHD to LHD just to screw with everyones mind. The last few biggest and most daunting questions are ….. For me honouring my MK1 escort ownership, but now equally applies to Singer .. Spot lamps or no spot lamps? Colour .. I personally might have to let Porkchops decide .. My theme perhaps the aussie outback, safari roo bar and none of those canyon carving wiggly stripes , just straight stripes like the roads in the outback , The Nullaboring edition. That Mullholland car was/is the dogs bollocks though.. now Already Been Done Link to comment Share on other sites More sharing options...
edgy Posted 9May, 2018 Report Share Posted 9May, 2018 Don’t forget the bundy rum mud flaps in that case, oh and the RM Williams sticker for the back window. Link to comment Share on other sites More sharing options...
sleazius Posted 9May, 2018 Report Share Posted 9May, 2018 Now this is a tasty burger. Link to comment Share on other sites More sharing options...
Nick-PBTB Posted 9May, 2018 Report Share Posted 9May, 2018 8 hours ago, edgy said: Which begs the question, who is going to be first Singer in AU? A Melbourne guy who goes by @madbarry on instagram has been waiting on line for a while now having already specced it out with singer. Should be very soon that he gets the call up and finally have the car built Link to comment Share on other sites More sharing options...
LeeM Posted 9May, 2018 Report Share Posted 9May, 2018 Jeez, that bloke proves I should have studied harder at school ? Link to comment Share on other sites More sharing options...
turboT Posted 10May, 2018 Report Share Posted 10May, 2018 2 year waiting list boys. Get your orders in now. $1.5MUS for the Williams car....whats the LCT saving on that? Link to comment Share on other sites More sharing options...
DJM Posted 10May, 2018 Report Share Posted 10May, 2018 Utterly ridiculous. Link to comment Share on other sites More sharing options...
edgy Posted 10May, 2018 Report Share Posted 10May, 2018 $1.5m usd... yeah, nah... but someone will drink the Kool Aid Link to comment Share on other sites More sharing options...
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