Importing a luxury yacht to Australia is no small feat. It is a complex process involving various Custom authorities, regulations, time-sensitive documentation, and logistical planning. Without proper preparation, delays can occur, potentially costing you time and money. However, sticking to a few key strategies can streamline the process and ensure that you can enjoy your yacht on Australia’s stunning waters without unwanted hiccups.
Here, we will share actionable tips such as (1) managing import duty and import GST tax liabilities, (2) ensuring that you have pre-reported you, your crew and the yacht’s arrival, (3) compliance with the biosecurity rules, and (4) leveraging the expertise of a licensed customs broker like Platinum®.
Understanding the Import Duty and Import GST Tax Assessments
One of the most critical elements of importing a yacht is navigating Australia’s import duty and Goods and Services Tax (GST) tax assessments. These two taxes will account for a significant portion of your overall importation costs. Import duty will either be zero or 5 per cent. Import duty will be dependent on whether the yacht is new or pre-owned and if new where the yacht was manufactured. Australia has a suite of Free Trade Agreements with various countries, however there are stringent rules to follow to make certain that you are eligible to claim any Free Trade Agreement. At best, a Free Trade Agreement may reduce the import duty from five per cent to zero.
To avoid overpayments or short paid penalties, it is crucial to have Platinum® introduced to the purchase in the early stages. Platinum®, a customs broker would assess your yacht’s eligibility for any import duty reduction. At this planning stage, Platinum® would be able to give an indicative list of fees.
The Customs Act 1901, Section 154
When you purchase a yacht, there are so many other aspects to be concerned with than just the purchase of the yacht and paying the import duty and or GST. The Customs Act 1901, Section 154 requires that the following non-exhaustive list of inclusions are added to the price of the yacht, (1) the costs incurred to have the crew sail the yacht from overseas to Australia, (2) the food costs, how much it cost to feed the crew, (3) the travel costs paid to put the crew in place overseas before sailing to Australia, (4) the fuel costs and (5) any modification or repair costs.
Australian Border Force (ABF) – Pre-Arrival Requirement
The Customs Act 1901, Section 64, is concerned with the impending arrival report of any yacht about to arrive into Australia. The Customs Regulation 2015, Regulation 16, is concerned with the time limits that apply to yacht owners in regards to notifying the ABF of the impending arrival of the yacht into Australia.
Platinum® as your customs broker would notify the ABF of the impending arrival of the yacht into Australia.
| Impending arrival reports–specified periods for kinds of journey | ||
|---|---|---|
| Item | Kind of journey | Specified period |
| 1 | A journey that is likely to take at least 72 hours but less than 96 hours | 72 hours |
| 2 | A journey that is likely to take at least 48 hours but less than 72 hours | 48 hours |
| 3 | A journey that is likely to take at least 24 hours but less than 48 hours | 24 hours |
| 4 | A journey that is likely to take less than 24 hours | 12 hours |
Department of Agriculture, Fisheries and Forestry (DAFF) – Pre-Arrival Requirement
Yacht owners also have responsibilities to notify the DAFF of the impending arrival of the yacht. Platinum® as your customs broker would notify the DAFF of the impending arrival of the yacht into Australia.
DAFF Biosecurity Compliance and Inspections
Australia has strict biosecurity regulations which aim to safeguard Australia’s island nation. Imported yachts even if purchased as new are considered as used when the yacht arrives into Australia.
Platinum® as your customs broker would have already notified DAFF of the impending arrival of the yacht into Australia. Upon arrival, DAFF will inspect the yacht and issue a certificate of pratique and a DAFF release.
To streamline the DAFF inspection process, ensure that the yacht is thoroughly cleaned before departure, paying close attention to debris, pests, and contaminants that could flag biosecurity concerns.
Platinum® as Your Licensed Customs Broker
Navigating the complexities of importing a yacht to Australia can only be achieved if you have the correct people involved and from the very early stages. Partnering with a licensed customs broker like Platinum® is a smart investment. Platinum® is a trusted customs broker who has processed both yacht imports and yachts exports at locations like (1) Thursday Island, (2) Broome, (4) Darwin, (5) Esperance, (6) Port Arthur, (7) Eden and (8) Southport.
Platinum® also provides you with One Touch®, a service where you will only deal with one contact from our company from the very beginning through to the very end.
Platinum® are well-versed in topics like (1) duty and GST tax assessments, (2) impending arrival reports for both the ABF and the DAFF. When you reply upon Platinum® you can be assured that all of the documentation will be accurate and completed on time, mitigating your risks to penalties and delays. Platinum® provides real-time updates so that you know the status of your yacht clearance, providing you with peace of mind.
When you rely upon Platinum®, not only will you save time but you will also save money, as Platinum® identifies potential cost-saving opportunities and proactively prevents avoidable import issues.
Additional Tips for a Hassle-Free Yacht Import
Prepare All Documentation in Advance
When Platinum® is involved early in the process, we are able to liase with both you and your overseas manufacturer or seller together to have all of the necessary items addressed.
Platinum® will require various documents like (1) the Bill of Sale, (2) provisional or final registration papers, (3) insurance papers, (4) the completed ABF paperwork (that Platinum® will provide you to complete), and (5) passport photo pages for all persons arriving into Australia on the yacht.
Clean the Yacht Thoroughly
Pre-cleaning your yacht ensures compliance with Australia’s rigorous DAFF biosecurity standards and helps you avoid re-inspections and fees.
Plan for Weather Risks En Route
The sailing path from overseas to Australia may change, if any changes do occur, just let Platinum® know and we will then advise both the ABF and the DAFF at the same time of the changed impending arrival date.
Stay in Regular Contact with Platinum®
Remaining in constant communication with Platinum® allows the yacht importation to run smoothly. Importing a luxury yacht into Australia doesn’t need to be either complex or overwhelming. The hardest part of purchasing a yacht is finding the manufacturer or seller that you wish to purchase the yacht from. All other aspects will fall into place when you rely upon Platinum®. Before you know it, you will be enjoying your yacht in different areas of Australia without any restrictions.
Rely upon Platinum® for Stress-Free Yacht Imports
Platinum® is dedicated to making luxury yacht imports both seamless and hassle free. Platinum® provides expert guidance in regards to import duty, import GST and impending arrival reports for both the ABF and the DAFF.
Don’t leave your yacht importation to chance; trust Platinum® the professionals in customs clearing yachts into Australia.
Reach out to Platinum® today to learn more about our specialised yacht import customs clearance services or to request a personalised quotation. Your hassle-free yacht import experience starts here!