I have found out that there is no import duty on aircraft (weighing under 2,000kg, I think it was.) but there is GST charged at the rate of 10%.
My question is: If you have purchased an aircraft overseas and use it for 2 years travelling around before bringing it into Australia, how do they work out the GST?
It's no longer new. No longer worth the price you paid. If it's on retail value and it's not a common type of aircraft,who sets the resale value and how do they arrive at that?
I know they charge it also on the freight to get it here, but if you fly it here, maybe that's a different situation as well.