When importing things from the UK, such as a car or Caravan, how do the Aussies calculate the GST? On a brand new item with no UK VAT paid, would it be based on the UK new price multiplied by the exchange rate of the day, or is it based on the costs of an equivalent product new in Australia. For us this could be a big difference, as a new Caravan in UK VAT free is about £15K, and over here the similar model we are looking at is $46K, even with the cost of importing on a ship and customs fees, the savings are hugh, plus the vans have far superior interiors, and as we only want to do tarmac roads and campsites, we do need the big Oz off road types, plus they just about all only 2 berths, even the ones that are 20-25ft long?