36 replies to this topic

[73SUNBURSTEXYOUWON]

Interesting,

my EH i've had 25years, a $1000 purchase back then unregistered, from parents.

1996 It was fixed up, registered and driven 5years as a daily,
then deregistered in 2002 for 8 years,
then spruced up again in 2010 re-registered again as a club car, as is currently.

Sorry I cant recall if anyone at Qld.TMR asked me in 1996 or 2010, what was spent on the car to actually get it on the road.

I'd say on the original 1996 Registration i woukd have paid POXY Stamp Duty on $1000.

I guess i would have to look through my Vehicle file to find the Rego paperwork from those re-registration years to confirm.

[claysummers]

Surely, surely, stamp duty is payable on transfer, not licensing. If you buy a vehicle with plates, transfer the rego before you improve the value if possible. This won’t always be possible particularly where inspection required as for interstate transfer. I know we have relatively lax rules in SA for walk in rego. I don’t see how they can come back at you when you have paid honest transfer fee at the time.


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[yel327]

But if you bought a car over 10 years ago and put it on club rego, then tried to put it on full rego today you’d arguably be subjected to stamp duty on today’s market value. Compounding that would be if you’d spent lots of $ restoring it whilst on club rego.

[S pack]

Interesting,

my EH i've had 25years, a $1000 purchase back then unregistered, from parents.

1996 It was fixed up, registered and driven 5years as a daily,
then deregistered in 2002 for 8 years,
then spruced up again in 2010 re-registered again as a club car, as is currently.

Sorry I cant recall if anyone at Qld.TMR asked me in 1996 or 2010, what was spent on the car to actually get it on the road.

I'd say on the original 1996 Registration i woukd have paid POXY Stamp Duty on $1000.

I guess i would have to look through my Vehicle file to find the Rego paperwork from those re-registration years to confirm.

Screenshot from the QLD rego transfer application form.
 Screenshot_2021-03-12 Vehicle Registration Transfer Application - F3520_CFD pdf.png   93.41K   5 downloads

[S pack]

A guide to vehicle licence duties in WA.

[CI 0308]

Stamp duty is on the transfer not renewal of rego. If as a clunker you transferred it into your name 20 years ago and let the rego lapse for ten years then it's just a reinspection and pay the new rego no stamp duty.

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[S pack]

Stamp duty is on the transfer not renewal of rego. If as a clunker you transferred it into your name 20 years ago and let the rego lapse for ten years then it's just a reinspection and pay the new rego no stamp duty.
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Agree, that is how I read it.

[CI 0308]

The problem I will have with the van is I bought it unregistered as a rusty shell for 3.5k then spend a few years doing it up, Buying parts for it and getting it painted etc all while paying GST along the way then when finished and values have gone up. Rock up to register it and they determine the value is now 70k that's what I'll be paying the stamp duty on. There might be a few rusty wrecks in future rocking up for rego.

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[ls2lxhatch]

Using the figures from the XBOSS Street Machine Article.

 

The market value of XBOSS was declared as $15,500 which is clearly undervalued.

 

The stamp duty bill of $26,000 indicates the car was insured for around $400,000.

 

The total bill for XBOSS was $34,000 including the 30% penalty of which he then got around $25,00 back on appeal leaving a $9,000 bill.

 

The stamp duty on $140,000 is around $9,100.

 

The stamp duty on $110,000 is $7,150 plus 30% penalty is $9,295 

 

If they waived the penalty (which seems unlikely) then the car was valued at around $140,000.

If they did not waive the penalty then the car was valued at around $110,000.

 

It would appear that the lesson here is rego first then restore / modify.

 

[Bernie]

If your vehicle was LICENSED and transferred into your name when you first bought it then you only pay stamp duty the one time .

FYI 

Stamp duty is calculated on the market value of your vehicle at the time of licensing :

 

This is from the email I received 

 

This review is to determine whether the vehicle’s declared dutiable value ie market value at the time of licence grant was correct. Therefore, this review must determine the vehicle’s market value at its time of licence grant when in a roadworthy condition.  This market value can vary from a previously paid vehicle purchase price.

I understand that vehicles can be insured above their market value for various reasons, including to meet expected higher replacement costs or for sentimental reasons. Therefore a vehicle’s agreed insured sum is not automatically adopted as the vehicle’s correct market value, however large discrepancies are used to indicate potential review cases.

 

Redbook values are similarly used as a market guide for vehicle prices, but will be adjusted to reflect the vehicle’s actual condition and any exact market prices achieved, to reach the most accurate market value estimate for a vehicle.  

 

Therefore, can you please complete the self-review form and advise upon review whether your declared sums are still correct, or whether you believe the vehicle held different values at the time of licensing when roadworthy. When advising the vehicle’s dutiable / market value you should take into consideration the costs of any works completed on the vehicle after purchase but prior to licence grant, and the price you could have expected to sell the vehicle for at its time of licensing.

[Bernie]

Laurie ,Redbook value for SLR 5000 in Oct 2017 was $26,600 - $41250 .There were no derivitives of Torana .But there are now .Have a look at Red book values now and they give you all models .This has been well planned an worked out between all parties one would easily be led in to thinking  

[caterham2]

In Victoria is as follows. Buy a road registered car, pay stamp duty on market value. upon transfer of reg into your name. Buy an unregistered car , no stamp duty payable as is only applicable to road reg vehicle. Put car on Club Permit system, no stamp duty payable, road register a car NOT previously registered in YOUR name, stamp duty payable on market value, or take receipt for purchase price as proof and this is most likely accepted, unless it looks "dodgy" value wise. As far as W.A. goes, suggest the ballot box will sort that out. Insurance values have nothing to do with it, nor should they anywhere else. Of course another way to deal with this is to default on the bill being sent, get yourself and every other defaulter to get summonsed to court and choke the living daylights out of the court system. This was very successfully carried out in Victoria years ago after Melbourne City Councils parking inspectors made absolute arseholes out of themselves in CBD, a backdown by Council followed rapidly as the court system ground to a halt due to cases and appeals flooding in by fine non payers. Radical I know, but effective it can be.