Get another 5d? Check inside for full dilemma!

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Get another 5d? Check inside for full dilemma!

Postby devilla101 on Wed Oct 10, 2007 3:21 pm

With the nice price drop of the canon 5D I've been playing with the idea of getting another one and selling the 30D and 17-55 IS to fund for the body.

Now I was thinking of waiting for a new 5D to come out and see what it will be like.

However I am going overseas in November so by getting a 5D+battery grip I can claim some money back on TRS and save $$$

Oh yeah i'm also doing some wedding photography now

What do you guys reckon?
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Postby devilla101 on Wed Oct 10, 2007 7:05 pm

anyone at all?
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Postby shakey on Wed Oct 10, 2007 7:15 pm

If you are returning, then legally you have to declare the goods when coming back through customs and may have to pay GST. I don't know whether there is a TSR tag in the customs computer system for when you come back into the country to alert the customs officer that you obtained an exit GST refund but if you don't declare and you get sprung there are extra penalties.
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Postby shakey on Wed Oct 10, 2007 7:23 pm

forget to add...if you are making an income from wedding photography you can set up as a GST registered business and get a GST refund and claim the cost (or at least the proportional business related cost) of the camera as a work related expense so the TSR thing isn't probably worth while anyway
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Postby michael_ on Wed Oct 10, 2007 9:05 pm

shakey wrote:forget to add...if you are making an income from wedding photography you can set up as a GST registered business and get a GST refund and claim the cost (or at least the proportional business related cost) of the camera as a work related expense so the TSR thing isn't probably worth while anyway


thats what i do and would do if i was you.
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Postby jdear on Wed Oct 31, 2007 8:34 pm

Id buy a 5D from B&H - with the $AUD as it is, its around $2400 delivered. of course GST will most likely be added but it is still a very good price! (even better of the AUD gets to 1:1 USD as rumoured.

J
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Postby Yi-P on Wed Oct 31, 2007 10:06 pm

jdear wrote:Id buy a 5D from B&H - with the $AUD as it is, its around $2400 delivered. of course GST will most likely be added but it is still a very good price! (even better of the AUD gets to 1:1 USD as rumoured.

J


Don't forget to add the extra 10% import tax on goods from overseas into your final value...

If you can get another 5D, then why not? no need to fuss about the settings and different controls over the bodies...
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Postby jdear on Wed Oct 31, 2007 10:34 pm

jdear wrote:
Id buy a 5D from B&H - with the $AUD as it is, its around $2400 delivered. of course GST will most likely be added but it is still a very good price! (even better of the AUD gets to 1:1 USD as rumoured.

J


Don't forget to add the extra 10% import tax on goods from overseas into your final value...


what GST 10% + import tax 10% to the final value? :P

Jonathan
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Postby who on Thu Nov 01, 2007 12:01 am

But in relation to the register for GST question.....

If you don't, then as you are selling to consumers who cannot reclaim..... assuming your price is fixed at say $2400, if you are GST reg, you only keep $2,182, but if you aren't (as gross turnover is less than $75K per annum) you keep the $2400.

Much better to arrange a GST free import, or just wearing $300 of GST (assuming the 5D is $3300?) - ie the extra GST paid, is covered in less than 2 weddings..... and that is before any depreciation claim on the camera.

And this is assuming it is a business and not a hobby or non-commercial venture of shooting weddings. IS it done for commercial gain or profit on a regular basis? or as an active hobby? Are the charges to clients commercial or just abitrary? Is it done for profit or gain?

Hard to say what is the better option.....

Can't talk photography, but I can business / tax / GST.... PM me if you want more detail and I don't see the post.
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Postby jdear on Thu Nov 01, 2007 8:11 am

how does one "arrange a GST free import"?

thanks for the info!

Jonathan
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Postby Glen on Thu Nov 01, 2007 9:34 am

jdear wrote:how does one "arrange a GST free import"?

thanks for the info!

Jonathan


Import an item under A$1,000
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