Looking into the issue of customs duty, someone suggested to me that it is not applicable to cars of US origin due to the free trade agreement. I had a look at it (
http://www.customs.gov.au/webdata/resources/files/PS200913-ig-AUSFTA.pdf) and found the following (page 7).
1.7. Certain US originating passenger motor vehicle goods have phasing rates of customs duty
imposed. The rates are 8% (2005), 6.5% (2006), 5% (2007), 3% (2008), 1.5% (2009)
and Free (2010).
Am I getting too excited about this or does it mean we can take a few thousand off 772's calculations? Also, as LCT is a tax on this tax in part, it will feed through to a reduction in LCT as well.
I also note that that AUD is climbing (91.4c today) and various market observers are calling a short term breakout to 94-95c or higher (parity?) in the near future.
Maybe things aren't as bad as I thought, or maybe it's just a nice day here today and I'm in a good mood.
What I need is a test drive in a nice fast electric car to keep my mind off these things. Can anyone help me? Cary? Stone? anyone? Bueller?
- - - Updated - - -
Here are 772's calculations redone if I am right. Unfortunately I noticed that 772 had used 30% as the LCT rate when it is actually 33% so his estimates are actually a few hundred dollars short.
60 kWh Model S = 69,900 + 1,170 USD = 71,070 USD * 1.09724 AUD/USD = 77,978 AUD = Customs Value (CV)
Shipping + Insurance = 4,000 AUD
VoTI = 77,978 + 4,000 = 81,978 AUD
GST = VoTI*0.10 = 8,198 AUD
LCV = VoTI + GST = 90,176 AUD
LCT = (90,176 - 75,375)*0.3 = 4,884 AUD
Total price (LCV+LCT): 95,060 AUD
and if the AUD hits 94c.
60 kWh Model S = 69,900 + 1,170 USD = 71,070 USD * 1.06382 AUD/USD = 75606 AUD = Customs Value (CV)
Shipping + Insurance = 4,000 AUD
VoTI = 75606 + 4,000 = 79606 AUD
GST = VoTI*0.10 = 7961 AUD
LCV = VoTI + GST = 87567 AUD
LCT = (87567 - 75,375)*0.3 = 4,023 AUD
Total price (LCV+LCT): 91,590 AUD
That's almost $5500 less if I'm right about customs duty, and another $3500 if the currency does what some are predicting over the next couple of months.
If I run the numbers for fully loaded I get $195,553 at 772's exchange rate and $189,017 at 94c.
Just wishful thinking?