We won a car

[StinkyPinky]

Such a tax does not exist in NZ from what I remember. He will only need to register it (a few hundred bucks) and that's it. Been a while so could be wrong.

 

[judasmachine]

What is the tax value of that car? I'm just curious how much it cost to win a car.

Doh didn't realize he was in NZ.

 

[Aberforth]

buy this

 

[Psynaut]

Gratz man. it's nice to know that people actually win these things. I always wonder if they are for real, or just a way to get your email address to sell to spamers.

 

[GodlessAstronomer]

Originally posted by: Marlin1975

Originally posted by: BurnItDwn

Originally posted by: Marlin1975

Originally posted by: SolMiester
I think we will keep it for her.....

Don't blow that 6k.

You have to pay tax on the FULL value of the car. So expect a large bill for it. But still cheaper then having to buy it of course.

New Zealand may have different tax codes/laws than the US ....

Ahh did not see where he was from. But I am sure there will be some money to pay.

No, here in NZ tax on windfalls and lottery winnings is paid in advance by the entity holding the competition iff I remember correctly. The only applicable tax is the sales tax which is paid when the car is originally purchased. I'm not a accountant but I'm 99% sure that's the case. One thing I know for certain is that no tax is paid by competition winners.

 

[dmcowen674]

Originally posted by: GodlessAstronomer

Originally posted by: Marlin1975

Originally posted by: BurnItDwn

Originally posted by: Marlin1975

Originally posted by: SolMiester
I think we will keep it for her.....

Don't blow that 6k.

You have to pay tax on the FULL value of the car. So expect a large bill for it. But still cheaper then having to buy it of course.

New Zealand may have different tax codes/laws than the US ....

Ahh did not see where he was from. But I am sure there will be some money to pay.

No, here in NZ tax on windfalls and lottery winnings is paid in advance by the entity holding the competition iff I remember correctly.

The only applicable tax is the sales tax which is paid when the car is originally purchased.

I'm not a accountant but I'm 99% sure that's the case.

One thing I know for certain is that no tax is paid by competition winners.

That's the way it should be.

Otherwise it is not a prize, it's a liability.

 

[Perknose]

Originally posted by: BurnItDwn
New Zealand may have different tax codes/laws than the US ....

There, I believe you can pay your bill in sheep.

 

[Old Hippie]

Congrats! :thumbsup:

 

[Kirby]

Sell it and put a supercharger on teh Laser.

 

[ivan2]

lucky man. I hope they bring the swift to the state =(

 

[SolMiester]

Hi guys.....sold the Laser this morning for $800NZD...LOL, the wife says she needs new haircut, nails & dress to wear to the prize giving\photo shot...LMAO. Meh! Kiss the 8 hundy goodbye!!!

 

[grohl]

huh?

 

[preslove]

Congratz

 

[Shawn]

Originally posted by: SolMiester
Hi guys.....sold the Laser this morning for $800NZD...LOL, the wife says she needs new haircut, nails & dress to wear to the prize giving\photo shot...LMAO. Meh! Kiss the 8 hundy goodbye!!!

=$564.4400 USD. LOL!

 

[Mo0o]

Ford Laser to Suzuki Swift... Movin' on up?

 

[sdifox]

So do you have to pay for taxes or are the taxes all paid for as part of the prize?

 

[Jawo]

Originally posted by: OdiN
Cool. Sell it and buy something good.

Ha ha ha...thats what I first thought as well...but if the OP needs an inexpensive car, its great timing

 

[gorcorps]

Originally posted by: sdifox
So do you have to pay for taxes or are the taxes all paid for as part of the prize?

Pretty sure they need to be paid. So how much would the taxes be on something like this?

 

[sdifox]

Originally posted by: gorcorps

Originally posted by: sdifox
So do you have to pay for taxes or are the taxes all paid for as part of the prize?

Pretty sure they need to be paid. So how much would the taxes be on something like this?

I have no idea. Up here in Canada, all taxes and fees are paid for. So if you win something, you don't pay a cent. Our lottery is the same, if the pot is 10M, you get 10M, no 20 year annuity bullshit either, you get 1 very big cheque.

 

[StinkyPinky]

Originally posted by: SolMiester
Hi guys.....sold the Laser this morning for $800NZD...LOL, the wife says she needs new haircut, nails & dress to wear to the prize giving\photo shot...LMAO. Meh! Kiss the 8 hundy goodbye!!!

Must be a real old clanger to sell for that low? Even a 1994 model?

 

[evident]

i think if you win a car in the US and you decide to sell it, you have to pay taxes on it too, no?

 

[SolMiester]

Originally posted by: sdifox
So do you have to pay for taxes or are the taxes all paid for as part of the prize?

No taxes buddy, they even register the car in her name, so all on road charges excluding insurance...

 

[SolMiester]

Originally posted by: StinkyPinky

Originally posted by: SolMiester
Hi guys.....sold the Laser this morning for $800NZD...LOL, the wife says she needs new haircut, nails & dress to wear to the prize giving\photo shot...LMAO. Meh! Kiss the 8 hundy goodbye!!!

Must be a real old clanger to sell for that low? Even a 1994 model?

250k on the clock, goes like a dream but for a flat spot...need new carby jets and a tune up, but, has new warrant of fitness, registration and 6 mth tyres...a quick sale cause....its all good...

 

[Acanthus]

Originally posted by: evident
i think if you win a car in the US and you decide to sell it, you have to pay taxes on it too, no?

You have to pay a gift tax on the value of the car in the US whether you want to sell the car or not. It's not small either, last i knew it was over 40%...

There was a big thing a year or so ago about oprah giving brand new pontiac G6s to everyone in her audience and more than half of them had to sell them because they couldnt afford the gift taxes.

 

[Googer]

Originally posted by: OdiN
Cool. Sell it and buy something good.

Suzuki Swift = Chevrolet Metro aka Geo Metro. They are the same car, GM used to rebadge Suzuki cars.