When importing a car into New Zealand, NZ Customs accept two different methods for determining the value for Customs. If you don’t have the Sales/purchase invoice, then a car valuation must be done on arrival in NZ. Thankfully Taurus Logistics can also arrange car valuations for you.
Copy of Sales Invoice (Bill of Sale)
If you have copies of the sales invoice from the company you purchased your car from, then these can be used as the “value for Customs”. Hand written, and private sales agreements are NOT accepted. However depending on how long you have owned the car for, this amount can be depreciated in your favour.
Car valuation
If you don’t have the sales invoice as described above, then a car valuation must be obtained by a approved New Zealand registered company. Taurus Logistics can arrange a car valuation for you, and our valuations are accepted by New Zealand Customs.
For more information on how we can help you with your car valuation, please give us a call.
Depreciation
From 1 March 2020, New Zealand Customs will follow the straight line rate used by Inland Revenue where depreciation is applicable when valuing imported used vehicles. The rates used by Inland Revenue are based on the determined estimated useful life of the vehicle.