Did you know you may be eligible for a motor vehicle duty exemption on the purchase of a new vehicle used solely in the business of primary production within Victoria?
Motor vehicle duty is tax payable on applications to register or transfer a vehicle. The amount of duty payable is calculated on the dutiable value of the vehicle, being the price of your vehicle including all accessories, GST, and LCT if applicable.
For a new vehicle to receive the exemption it is required to be solely used in the business of primary production and registered in the name of a primary producer as per Section 233 of the Duties Act 2000.
To apply for this exemption you will need to provide to the State Revenue Office a letter from Green Taylor Partners confirming that ‘The registered operator of vehicle registration number/VIN is a “Primary Producer” and that the vehicle is used solely in the business of the registered operator as a primary producer’.
Once this has been submitted, the State Revenue Office will provide a letter of exemption to be shown at Vic Roads upon registration of the vehicle. You should receive the letter of exemption within 21 days.
Alternatively you can register the vehicle and pay the duty and then apply to the State Revenue Office for a refund of duty paid. You will still need to supply the letter from us at Green Taylor Partners.
Under the Duties Act 2000 there are other exemptions available which includes, but are not limited to:
– transfers to beneficiaries of a deceased person;
– motor vehicles registered as demonstrator vehicles;
– transfer between spouses/domestic partners on marriage breakdown;
– change of registration from another state;
– vehicles used solely for disabled or handicapped people of training, education and employment.
For a more extensive list and further information on motor vehicle duty exemptions for primary producers please refer to www.sro.vic.gov.au or contact us at Green Taylor Partners.