Advice from PS Australians please :)

[darkness13]

Hi PS Aussies

Quick question - have any of you ever sent a diamond from Australia over to a jeweler in the US to have it set into a ring and then had the whole piece sent back?

I want Victor Canera in the USA to make an engagement ring up for me and I'm trying to figure out the best way to avoid a hefty tax bill as it re-enters the Australian border. If I purchased the centre stone here and posted it over to the US, I wonder how Australian customs would try and charge me given the whole piece would come back as one ring?

If I didn't buy the diamond in the US, only the setting, would they just tax me on the setting? Would I need to show proof the diamond wasn't purchased in the US? anyone gone through this?

Sigh*

Any advice or others experiences with this type of scenario would be so greatly appreciated.

Thanks.

 

[misskittycat]

Theoretically you should just pay tax on the setting, not the stone, as you will have already paid GST on it if you buy it here. You will probably have to produce your GST inclusive receipt and show it to FedEx/Customs when it arrives in Australia.

 

[The sun is shining]

It's called a return flight.

I once contacted customs and they said you would need to pay for the value of the whole ring. Having said that, the declared customs value is what is written on the invoice. As in, have rec'd JA earrings with a "value" of $4000 if you look through the paperwork, but the invoice was $900 (this was a few years ago), and therefore I wasn't required to pay duty.

Also, if you bought the stone in USA and had it shipped here, then shipped out you could claim customs charges back, then pay them again on reentry. Con

I recall someone else having a similar issue, but I think the destination was UK. the solution was to have the setting made without the stone and have an empty setting sent, with a local jeweler setting their center stone. I'll see if I can find it.

 

[justginger]

It's called a return flight.

I once contacted customs and they said you would need to pay for the value of the whole ring. Having said that, the declared customs value is what is written on the invoice. As in, have rec'd JA earrings with a "value" of $4000 if you look through the paperwork, but the invoice was $900 (this was a few years ago), and therefore I wasn't required to pay duty.

Also, if you bought the stone in USA and had it shipped here, then shipped out you could claim customs charges back, then pay them again on reentry. Con

I recall someone else having a similar issue, but I think the destination was UK. the solution was to have the setting made without the stone and have an empty setting sent, with a local jeweler setting their center stone. I'll see if I can find it.

Yes. I know of people who have managed to get the whole ring back and paid nothing (since the stone was WELL DOCUMENTED to have been purchased in Australia, paperwork kept from the initial shipping and insurance {another thing for you to consider, it will like cost you hundreds of dollars to insure a stone of the size you're considering in the post system...I sent a $2000 stone and it cost me $150 in shipping/insurance}, etc). I also know of people who have not been so lucky, and have been charged tax on the WHOLE ring. If you read the customs policy carefully, they have a clause for items that have been "altered," thus making them taxable. Most agents would consider the setting process enough 'alteration' to deem to be taxable. I wouldn't recommend trying to do it this way, there's a significant chance you're going to get double taxed. Either do the whole project locally, or do the whole project overseas.

Edit: it would be easier to keep track of responses if you only post each thread once. I thought I was going crazy when I opened another post that was identical to this one!

 

[Acinom]

I am from Europe but went through a similar process. In the end I did not send my stone to Victor and he made the ring for me without the center stone. Whether this is possible depends ond the roundness/dimensions of the stone.

In Europe I would have had to pay customs on total value of the ring. So, also on my own stone that I bought years ago. Perhaps you can avoid it by having the setting and stone send to you in separate packages. People from customs can easier determine if the stone is the same as according to the paperwork if the stone is unset. If there are any doubts however they can charge you here in Europe.

All the best working out what the best process is for you!!