Customs Update | July 2017
Did you know you can defer your 10% Import GST bill??
The ATO allows you to defer payment of your import GST Debit if you meet the following criteria:
- Have Australian Business Number (ABN)
- Traded for 2 years
- Do your Business Activity Statement monthly and electronically with the ATO
For more details go to the following link or contact your local customer service or broker representative.
Trouble with Imposing GST on Low Value Transactions Legislation deferred for 12 months
Import GST on Low Value (under A$1000) was scheduled to be implemented 1st July 2017 but will be de-ferred for another 12 months. All you need to know here.
Is your business utilising existing Free Trade Agreements?
A Free Trade Agreement removes barriers to trade and can reduce or remove import duty.
Currently Australia has agreements with the following countries:
- ASEAN (South East Asia & New Zealand), Canada, Chile, China, Developing & least Developed Countries, Forum Islands, Japan, Korea, Malaysia, New Zealand, Singapore, Thailand & United States.
If a certificate of origin was available at time of importation there is potential to go back 4 years for re-funds of duty. If a certificate is issued retrospectively the refund period is 12 months.
For further information see the following link or contact your customer service representative or customs broker.
Do you know if you goods contain asbestos?
Border force are still targeting import shipments of goods potential containing asbestos due to a number of imports been found to contain asbestos
It is up to importers to ensure there goods imported don’t contain asbestos below is Borderforce web site to potential list of goods containing asbestos and the only acceptable oversea authority they will accept to avoid your good being randomly tested upon arrival in Australia at importers expense.