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 9Likes
10-27-2014, 03:17 AM
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CC Member
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Join Date: Sep 2010
Location: redcliffe,
qld
Cobra Make, Engine: venom motorsports /ls1 auto
Posts: 500
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Not Ranked
stamp duty
what has everyone claimed there car cost as I have to pay mine tomorrow & was asked what cost was the car to build for STAMP DUTY for rego
do I tell them the real cost to build
OR what cost I told the wife it cost to build
ROB 
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not all your babies are your children
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10-27-2014, 06:45 AM
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CC Member
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Join Date: Jan 2002
Location: Melbourne, Australia,
VIC
Cobra Make, Engine: AP Pace427 (AP4033) GM L77 6.0L TR6060
Posts: 838
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Not Ranked
Yeah, that's probably not a question I'd put on the forum Rob :-)
Just saying....
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Guy
Cobra Progress guye-cobra.blogspot.com
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10-27-2014, 01:31 PM
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CC Member
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Join Date: Mar 2010
Location: Gold Coast,
QLD
Cobra Make, Engine: Arntz, TKO600, 460
Posts: 818
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Not Ranked
This is copy and paste from the QLD transport website for registering a new vehicle.
I guess that you consider a first registration a new registration, as this vehicle does not have a list price.
Vehicles without a list price
You pay duty on the highest of the:
purchase price—this includes deposit, trade-in allowance, dealer delivery fees, warranties and price of all optional equipment
or
market value of the vehicle.
The market value is the amount the vehicle might reasonably be sold on the open market.
So, market value could be interpreted as being what price could you sell the vehicle in the market 'today'.
Terminology here is 'SOLD' , not advertised for 12 months and not sold.
Here is a link the the QLD website anyway.
https://www.osr.qld.gov.au/duties/ve.../index.shtml#a
Last edited by leroy17; 10-27-2014 at 03:21 PM..
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10-27-2014, 03:37 PM
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CC Member
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Join Date: Jul 2007
Location: Melbourne,
VIC
Cobra Make, Engine: Harrison build #98 with Supercharged 6.2L of Chev Power, TKO600 5 speed gearbox
Posts: 210
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Not Ranked
I said $50,000.
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10-27-2014, 04:15 PM
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CC Member
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Join Date: Apr 2008
Location: Melbourne,
Vic
Cobra Make, Engine: Some polish thing... With some old engine
Posts: 2,286
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Not Ranked
What's your insurance cover say?
Its a curious question... because I know what mine cost, but I also know what mine would cost to replace.... those figures aren't the same....
Also how does one add personal labour costs into the equation?
Lotsa variables...
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10-27-2014, 04:21 PM
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CC Member
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Join Date: Nov 2009
Location: Cheltenham,
Vic
Cobra Make, Engine: Classic Revival CR3516, LS3, Aussie Mike'd T-56, 3.70 LSD, AP brakes, Penske shocks
Posts: 1,616
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Not Ranked
You don't add personal labour, your labour is worth nothing when you try to sell it, just ask your insurance company. The figure is what it would SELL for, not replacement build cost.
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Ben in AU
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10-27-2014, 04:27 PM
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CC Member
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Join Date: Apr 2008
Location: Melbourne,
Vic
Cobra Make, Engine: Some polish thing... With some old engine
Posts: 2,286
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Not Ranked
Quote:
Originally Posted by Modena
You don't add personal labour, your labour is worth nothing when you try to sell it, just ask your insurance company. The figure is what it would SELL for, not replacement build cost.
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Thanks mate... but:
What about hired labour costs?
How does this affect someone in the business ie: mechanic or auto elec who is building a cobra?
As to what it would sell for... well that's debatable, yes?
There'd be an upper and lower limit on those figures No?
Could get rather grey I guess...  |
10-27-2014, 04:59 PM
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CC Member
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Join Date: Nov 2009
Location: Cheltenham,
Vic
Cobra Make, Engine: Classic Revival CR3516, LS3, Aussie Mike'd T-56, 3.70 LSD, AP brakes, Penske shocks
Posts: 1,616
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Not Ranked
Yeah I would think it could get rather grey, but I think the point is to be in the ballpark - if similar cars are going for, say, 50-75, then you wouldn't declare a value of 30 and hope to get away with it, or be prepared to explain and prove why.
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BUILD-BLOG: http://cobrablog.holnet.net
Ben in AU
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10-27-2014, 05:44 PM
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CC Member
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Join Date: Jan 2007
Location: Melbourne,
VIC
Cobra Make, Engine: Harrison, 6.0L Chev
Posts: 2,513
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Not Ranked
When you drive through VicRoads in an ugly grey gelcoat car they have no trouble agreeing with $30k. Trust me. 
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"A spectacularly fast car in a grand if dated tradition."
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10-27-2014, 05:54 PM
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CC Member
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Join Date: Feb 2002
Location: Alice Springs, central Australia,
NT
Cobra Make, Engine: Classic revival kit (CR3181), gen III engine, T56 6 speed box, AU XR8 lsd diff
Posts: 5,699
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Not Ranked
Go club rego first if you can (no stamp duty) then the next day transfer it to full rego (no stamp duty as it is already in your name).
I did not do this when I registered mine, but I have heard of some that have (outside of Cobras)
When I payed mine, I added the cost of parts only ($32k)
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Cruising in 5th
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Never be afraid to do something new, Remember, Amateurs built the Ark: Professionals built the Titanic.
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10-27-2014, 06:11 PM
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CC Member
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Join Date: Aug 2001
Location: Melbourne, Australia,
Vic
Cobra Make, Engine: G-Force Mk I, 5L Windsor, TKO 600, enhanced Jag / Koni suspension & LSD Diff.
Posts: 2,300
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Not Ranked
I quoted what it had actually cost me to build to that point.
This was $30K and the same as Sambo, unfinished, unpainted, no trim so what I probably might have got for it if I'd advertised at that time.
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slowy
Last edited by stephen low; 10-27-2014 at 06:13 PM..
Reason: granmar error
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10-27-2014, 06:43 PM
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CC Member
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Join Date: Jan 2001
Location: Sunbury,
VIC
Cobra Make, Engine: Rat Rod Racer, LS1 & T56
Posts: 5,391
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Not Ranked
I produced receipts for most of the major items: Chassis, Engine Trans Wheels etc and they agreed on a value of about $35K from memory. The car was flat black and not very pretty.
It's a bit of a grey area. After the car is painted and trimmed it's value will go up markedly. You could probably justify the increase in value based on improvement made post registration.
Cheers
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Mike Murphy
Melbourne Australia
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10-27-2014, 08:20 PM
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CC Member
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Join Date: Apr 2010
Location: Hobart,
TAS
Cobra Make, Engine: ?????
Posts: 494
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Not Ranked
What do you want your insurance company to pay you?
I know of a guy that said he paid $5000 for a $20000 four wheel drive. The car was stolen and burnt out about a month later.
Guess how much the insurance company said the car was worth?
You win some you lose some I suppose... 
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The road to hell is paved with good intentions
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10-27-2014, 09:29 PM
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CC Member
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Join Date: Sep 2010
Location: redcliffe,
qld
Cobra Make, Engine: venom motorsports /ls1 auto
Posts: 500
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Not Ranked
hi guys
WELL YES I AM OFFICALLY REGOED AT12.20PM TO DAY
stamp duty was a good one
none could give a defined answer so they said what did the kit cost originally at first purchase
25k I told them so stamp was on that
so I rang shannons to ask the question [[ was told if its insured for 55k that what its insured for ] & not what the stamp duty was ssssooosooo im REGOED
SEEYOU ON THE ROADS TILL PAINT
rob
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not all your babies are your children
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10-27-2014, 09:34 PM
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CC Member
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Join Date: Feb 2002
Location: Alice Springs, central Australia,
NT
Cobra Make, Engine: Classic revival kit (CR3181), gen III engine, T56 6 speed box, AU XR8 lsd diff
Posts: 5,699
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Not Ranked
Good to hear, now go and enjoy it.
Go slow for a while till you get used to the loud pedal, don't want any dogs running out in front of you at roundabouts.
__________________
Cruising in 5th
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Never be afraid to do something new, Remember, Amateurs built the Ark: Professionals built the Titanic.
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10-27-2014, 09:42 PM
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CC Member
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Join Date: Jan 2001
Location: Sunbury,
VIC
Cobra Make, Engine: Rat Rod Racer, LS1 & T56
Posts: 5,391
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Not Ranked
Congratulations Rob, That's great news!
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Mike Murphy
Melbourne Australia
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10-27-2014, 09:43 PM
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CC Member
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Join Date: Nov 2009
Location: Cheltenham,
Vic
Cobra Make, Engine: Classic Revival CR3516, LS3, Aussie Mike'd T-56, 3.70 LSD, AP brakes, Penske shocks
Posts: 1,616
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Not Ranked
Awesome stuff, another Cobra on the road!
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BUILD-BLOG: http://cobrablog.holnet.net
Ben in AU
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10-27-2014, 10:27 PM
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CC Member
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Join Date: Apr 2008
Location: Melbourne,
Vic
Cobra Make, Engine: Some polish thing... With some old engine
Posts: 2,286
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Not Ranked
Woo hoo  |
10-29-2014, 03:23 PM
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CC Member
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Join Date: Jan 2002
Location: Melbourne, Australia,
VIC
Cobra Make, Engine: AP Pace427 (AP4033) GM L77 6.0L TR6060
Posts: 838
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Not Ranked
Well done Rob! Congrats!
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Guy
Cobra Progress guye-cobra.blogspot.com
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10-30-2014, 06:00 AM
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CC Member
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Join Date: Aug 2000
Location: Australia Geelong,
VIC
Cobra Make, Engine: Real: Southern Roadcraft, SRV8, 351W stroker
Posts: 852
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Not Ranked
Stamp duty
Thankyou pommy kit car rego laws. My car was imported from England where the car takes on the description of the donor car. So my Cobra is a rebodied 1974 Jag Xjs.When registered in Australia I only had to pay the bluebook value of a 74 Jag
Cheers,
Bryan
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COB-66 Young at heart old fart.
Don't drive faster than your guardian angel can fly.
If it doesn't matter what gear your in you have enough torque.
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