All goods coming into New Zealand, including yachts, are normally subject to duty and GST. Visiting yachts are granted a temporary import entry to exempt owners from paying these charges if they aren’t used commercially or sold, and depart the country within the time period.
Yesterday’s (11 December 2013) announcement from Customs Minister Hon. Maurice Williamson confirms the extension of the temporary import entry period from 12 to 24 months and is expected to be well-received by the world’s sailing-cruising fraternity and regions throughout New Zealand which stand to gain an economic boost from additional numbers of visiting yachts.
Peter Busfield, executive director of the New Zealand Marine Industry Association (NZ Marine), says: ‘The extended temporary import entry period is one of the key regulatory changes NZ Marine has been seeking as we aim to double the export earnings of our industry over the next six years.
‘The 24-month TIE makes New Zealand as a destination for visiting superyachts and cruising craft much more appealing, especially for vessels based in the Mediterranean and the United States which will now have greater flexibility to plan the long and exciting journey down-under to enjoy New Zealand’s scenic highlights and highly regarded hospitality.’
Read the rest of this report at www.marinebusiness-world.com.
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The extension of the Temporary Import Exemption is an initiative the Island Cruising Association has been actively lobbying government on for a number of years as this extension opens up the potential for overseas cruisers to both explore New Zealands fabulous cruising and get much-needed maintenance and repair work done during the one stay.
Cruising Boats staying in NZ for the full 2 years will also now have the option of having work carried out over the New Zealand winter with less time pressure and often lower winter rates.
Cruising Yachts that arrived after July this year, that were issued a 12-month TIE, can apply to customs to have their TIE extended to the full 24 months.
John Martin
Island Cruising Association
http://www.islandcruising.co.nz/