GST / Import duties during immigration
I'd like to find out about the Customs charges that might be incurred when importing a brand new item along with the rest of 'normal' household goods at the time of immigration (with PR or WTR visa, etc.). Let's assume that I've got a 20ft container for my own use, and I've filled it 80% full with all my household junk, furniture, etc., and all my household items are "used" (i.e. nothing "new").
Then maybe I want to use some of the remaining 'free' container space to ship out something new which I've just bought because it will cost lots more to buy in New Zealand. I'll use the example of a Jetski costing £5000 + VAT. (Note: I don't actually want a Jetski, and don't have a clue what they cost in the UK or in NZ!!)
If I'm "exporting" the goods from the UK then I may be able to avoid paying the UK VAT charge, but I'm sure I *will* have to pay relevant NZ import duties. This is where I get a bit confused, as the NZ Custom's website says:
"Customs duty is levied on the transaction value of the goods (the price actually paid for them). Goods and Services Tax (GST) of 12.5 percent is then calculated on the duty-inclusive value plus international freight and insurance charges".
If I'm reading that correctly, it suggests the transactional value would be £5000, and 'duty' would be levied on that to generate a "duty-inclusive value". Where do they get the "duty" value from? I saw a table suggesting that duty on "boats" is 18%. Then an additional amount for "international freight and insurance charges" are added - and that bit really confuses me. If I've transported the goods in my container then there isn't any extra 'freight or insurance' charges. So do Customs work out a "proportional" value instead, or work out how much I would have paid if I'd exported out the goods as a completely separate shipment?
On top of all that, the wording on that Customs page then suggests an extra 12.5% GST is added to the "duty-inclusive" + freight costs.
So in the worst case, it looks like the final calculation would be (£5000 + shipping & insurance) x 18% 'duty', and then another 12.5% GST on top..!
Have I misunderstood something, or is it really that expensive to import new items into NZ?
Cheers,
Pete.