Transfer of ownership and stamp duty fees

[VViCKiD]

Hi guys...
I am buying a DC2R off my friend...
First of all.... i'd just like to say these fees are bs.
Second, what should I declare as the value of my dc2r ? Because I will be buying this car off my friend I can tell him to write what ever as the purchase price... I am from NSW...

Also what is the exact amount of these fees.. I know it is 3% + something.. but what is that something ?

Cheers !

[JINRAI]

as long as its not too ridiculously cheap...but yea that stamp duty is BS

[Catcha]

eg $25000 plus 3% stamp duty 25000x3/100= $750 stamp duty you will pay

That is stamp duty put down a reasonable figure, put something way out and you get fined big time

[civiceg9]

eg $25000 plus 3% stamp duty 25000x3/100= $750 stamp duty you will pay

That is stamp duty put down a reasonable figure, put something way out and you get fined big time

I purchase a friends car and put down a price that VicRoad say is not reasonable. You just get a letter from them and they will want u to put another figure down and pay the difference.

Just put the Trade in value to dealers.

[SiR JDM]

when i bought my EG the lady was nice and put down 1.5k but tahts not beleivable..

in victoria its either market value or purcahse price, whichever is HIGHEST...

[kenshin]

i got the guy to put down 18000...

depends how much u wanna gamble...

market value of dc2Rs are around 26k in vic...

if u go too low u'll likely get caught and ask to pay the difference...
so go as low as u want but know if u go too low... you'll more than likely fork out more :)

hopefully that makes sense... 2am aint gonna proof read myself

[EuroAccord13]

My friend under-declared the value so much by stating panel damage to the car and it worked... But generally, take the Redbook's lowest value and VicRoads will believe it...

[IRI]

I put value as 15k, nowhere on the transfer form does it ask what model of teg....
ei: they dun know if it's gsi, vtir or an R....
It's been a year now and still no letter or anything.....

[wlee2]

i put in 10 k for a VTir and was not even challenged =P.. and when i did the transfer the stamp duty was 4% of the car value

[VViCKiD]

Cools.. Thx guys...
u think i will get away with it by stating that the car has some rear panel damage and some radiador damage ?

I was thinkin about declarin its value for 15 K

[reyesone]

say someone gives you a car for free (out of kindness or some other excuse)

will you still have to pay stamp duty? cause you're getting it for free?

(i have no idea about this stuff haha)

[wlee2]

what about if its like your mum giving you a birthday pressent? and she wants to buy the car first but then put it under your name or somthing ? how does that work do you goto still pay the stamp duty coz that kinda ghey if you goto pay stamp duty on a pressent and you want to put it in your name =P...

[SiR JDM]

She should put it in your name in the first place?

You will still need to pay the stamp duty otherwise it will just become another loophole

[wlee2]

mm loopholes =P....

[VViCKiD]

Hi guys... could i get ur opinion on my scheme....
I am buying a type R 1999 model with a real market value of $22 600. I plan on declaring the value of the car as $16000 with some damages on the back panels ?
Do u guys think this will work ?

[JINRAI]

sounds reasonable to me