Duty rate for cars & parts change in 2010

[AshSimmonds]

Info from Deb at Austorient Motorsport Logistics.

Effective Jan 1st 2010 sees the introduction of reduced (or phasing) rates of duty for numerous areas of the Australian Customs Import Tariff.

The duty rate is calculated at the date the Customs Entry (Import Declaration) is submitted, and as such to take advantage of the favourable duty rates if applicable, shipments should be managed to either arrive in Australia after 1st January 2010 or in the case of FCL consignments, as required, Austorient to move your shipments into a Customs Underbond facility until the new year, then entered and cleared at the reduced duty rate as applicable.

Passenger Motor Vehicles & Parts
current duty rate; 10%
revised to; 5%
effective; 01-01-2010

LCT remains same at 33% for every dollar over A$ 58,170.00

Race vehicles and parts remain unchanged - duty 5 % / gst 10%, no LCT applicable

[AshSimmonds]

I have made a calculator which reflects the new import duties and stuff, will release once finalised, reckon youse'll find it useful.

http://www.theaustralian.com.au/news...-1225822686305

Tariff cuts make luxury cars a bargain
Philip King

LUXURY carmakers have slashed thousands from showroom prices in response to a halving of import tariffs.

The price of a Rolls-Royce has tumbled by $50,000, a Ferrari V12 is now $27,000 cheaper and $20,000 has been taken off the price of a top-spec Aston Martin.

An Audi A3 can now be bought for under $35,000 while a Porsche Boxster costs less than when it first went on sale more than a decade ago, at $105,000.

The tariff cut applied this month, which reduces the impost on imported cars to 5 per cent, came into effect as the government's tax incentive scheme for business vehicle buyers was wound up.

The tax break boosted vehicle demand by 9 per cent last year, according to estimates by Toyota.

Luxury brands have been quick to reduce prices instead of adding equipment to cars, as they have done in the past when tariffs have fallen.

"We made the decision to pass on the saving in full -- it was the right thing to do," Bentley spokesman Ian Churchill said.

Sales of the elite British brand slumped more than 60 per cent last year as premium makers felt the downturn more than most.