Licensing

The Resort 35 is licensed to carry 12 & sleeps 10 passengers. Initially the boat will be placed in NSW MSB survey which is recognised Australia wide, then transferred to Queensland survey.

Great Barrier Reef Licence

The Charter company has the Great Barrier Reef Licence & permits that are necessary to charter vessels in the Whitsunday area.

Marketing

Management, promotion and marketing is all handled by the Charter company.

Maintenance

Maintenance under $500 is automatically done by the charter company, over $500 the owner is notified and the proper direction it taken. There is $2000 maintenance already factored into the running cost per year. Maintenance is the owners expense when it is not covered by insurance. See an example schedule, click here.

Insurance

Approximate insurance cost is $3200 per annum. 8-12% is net profit. The insurance cost has been factored into this already.

Tax Incentives

We can not advise on this as we are not accounts. Run as a business it has the tax advantages of a business or investment property. Please speak to your account.

Personal Use of the Resort 35 for Charter

The Charter company offers 1 month a year, & also use of the boat on a standby basis.

The taxation department allows 1 month per year as part of commercial usage. Any other time that the boat is available the owners can use the vessel but it's classed as private usage and can't be claimed tax wise.