Swapping Cars - Have to Declare and Pay Stamp Duty On Market Value WTF???

[holden#1]

On the W/E I shall be swapping my 1989 Holden Rodeo ute for a Toyota Landcruiser 1985 HJ60.

Queensland Transport informs me that I shall have to declare market value and pay stamp duty on that even though no money is changing hands...

Does that mean my Landcruiser to be is worth $500???

I don't want to be cheating (!) the government, but were talking a straight swap here. what do yas reckon????

[Joes_meat]

Check redbook. Just type redbook into google.

[Jimboss]

The RTA usually takes the price paid or market value (whichever is greater) and applies thier % fee. I was given my car by my grand-parents (so it was free), and i still had to pay stamp duty (which really sucks).

[TUFSS3]

yeah it does suk, the only way its not applicable is if its a spouse to spouse transfer.

[ucwepn]

Yep the transport authorities are out to get your money thats for sure. get the redbook value print it out and take it with you.
the redbook values are pretty low usually, its the way that dealers screw you with trade ins.

[RankONE]

They say market value or what you pay-whichever greater but i find its usually what you pay for some reason(maybe a rule they dont follow). So why not instead of swapping cars, sell them to each other for $1.

[sircruisealotVS]

ive never heard of them using "market or paid amount whichever is higher"...
in every case ive dealt with stamp duty i usually just say i bought the car for $100....who are they to say otherwise.

[ucwepn]

Yeah but if the cars are sold for a ridiculous amount like $0.00 or $1.00 they are gonna think your a a smartass and go by the market value. Just ring them up and ask them what they do in this situation, If you are happy with the answers you get grab the persons name and when you go in there for the transfer state that Person X gave me this information on the phone.

[commy92]

you dont have to pay it if the car is a gift or is past on from a family member. Well thats in QLD anyway

[TheForgotten]

no you don't, and even if you did, it's not much money.
2% + $17.50 isn't worth crying about IMO

[vnberlwagon]

My wife gave her car to her parents as their S1 Vn Sedan finally died, was told same things as above "posters", it's BULLSHIT how these Govt. Maggots find more ways to stick their hands in our pockets. Especially since they do ****all to improve road quality, especially accident blackspots and blame driver training standards or poor driver attitudes when people r hurt or killed on "their" shit quality roads.