The VERY Sad news is, the Gosford Classic Car Museum will be closing due to an ATO dispute forcing it to do so (the ATO dont agree with them operating as a museum!!!) https://www.whichcar.com.au/news/gosford-classic-car-museum-closes-its-doors Why am I posting this here? Well, I do believe they have a factory mint 300ZX Z32 in stock. All cars will be going up for auction. Just saying. No I'm not in the market. ...if I didn't have the Cayman, yes I would. Too darn right I would.
Bit of a shame... Sounds like a lack of proper due diligence by the operator. Anyway, here's the Zed. https://www.lloydsonline.com.au/LotDetails.aspx?smode=0&aid=11578&lid=1780477
Clearly he seriously got the shits with the whole thing to sell it all up in one go... Hate to think what the CGT will be on all this..
The news article states that the ATO wanted them to drop the term "museum" (I'm sure there are tax implications to that), and stop charging admission fees. Essentially, the ATO were saying (from what I can tell) "You are not a museum, you are a dealership". So I'd assume under that model, it's just not a viable business. Real shame. Odd how car expo's can charge admission. Anyway.....
Wow, thanks for bringing this up because I was wondering what was going on. It's all gone quiet there and was starting to wonder. Mint Z32, ready for the molestation and scrap in a few yrs time
Word on the inside is that it has a lot to do with luxury car tax that may or may not be payable under certain conditions of operation... Still shame to see it go. I was really hoping there’d be a Datsun on that auction list, too.
Would imagine there's more to be auctioned Rob, they've had a 240z on car sales for ages from memory that isn't on the list yet. Orange or red I think. Same with their Carrera GT & 959, been advertised for ages but suddenly off carsales
I would not be surprised if some gumpty at the ATO realised they could get more money from the "Museum" by forcing them to change their buisness model/entity type and pushed this through not realising the fallout when the business could not run as they wanted (paying more tax)....
And that gumpty probably patted himself on the back and went to bed in his superman PJ's dreaming of how he's saved Australia from evil tax dodgers, and what he'll do tomorrow to save the day.
its all good when Labor gets in they can recoup lost tax by removing the ability to roll over capital gains losses..... theres nearly 20k of banked up capital loss I loose when/if they do that - no issues charging me capital gains tax if I make money selling my house but if I loose money..... damn we wont let you hold that loss until you make some more money
