There’s nothing quite like being able to sail your own boat around the World Heritage Whitsunday Islands, Australia’s premier tropical cruising grounds. It gets even better when your boat operates as a commercial charter boat, so you can offset the operating costs against the income earned.
How does this work? By placing your boat with the Whitsundays longest, most award winning bareboat management company, Queensland Yacht Charters, we undertake to promote and maintain your boat in tip top conditions and to hire it out on your behalf to suitably qualified charterers. Our pre-charter checks and preparation are amongst the most thorough in the industry and this, along with our low insurance claim record is an indication of the care taken with your boat.
Consistent occupancy and well maintained boats that hold their value for re-sale are our trademarks.
QYC’s boats average around 25 weeks of charter per annum over a 5 year management contract. Some years will average less, some more. We are aware that some companies say they do more charters than the industry average, however this does come at a price to the condition of the boat. For our owners, we have always maintained a balance between charter income and maintenance of the vessel, so that at the end of its charter life you have a yacht in excellent condition for either personal use or re-sale.
With Queensland Yacht Charters you can be assured of absolute personal attention to your boat. We believe we are the company best placed to manage and work for the best returns for owners with premium vessels not just with our superior maintenance standards but also with our reservations staff who have the experience in booking these types of charterboats.
As the owner, you have generous usage of your boat – 4 weeks each year can be pre-booked and other times are always available at shorter notice providing charters are not booked. Also, if you buy a yacht through our brokerage, you also have the opportunity to use your owner use on the same boat at our other international bases! To maximise income, owners do not use their boats during peak holiday times. And of course you are not limited to where you can go, so sailing further afield is always an option.
AUSTRALIAN TAX OFFICE www.ato.gov.au – SEARCH “CHARTER BOATS”
The Government will now allow taxpayers who cannot demonstrate that they are actually carrying on a business using a boat to claim deductions for the costs associated with hiring out their boats.
This measure will have effect from the first income year after the date of Royal Assent of the enabling legislation and is good news for charterboat owners.
What this means is that taxpayers who are hiring out a boat can deduct expenditure relating to their boating activity against the income derived for hiring which is also taxable. Taxpayers will be allowed to carry forward any excess deductions and deduct them against income generated from that boating activity in future years. Of course you should obtain professional advice on these changes and how they may affect your situation.
For more information on owning a bareboat in charter, please contact our General Manager Christophe Vanek on email firstname.lastname@example.org