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Imports to Australia

By Samheronn Subscribe to RSS | February 16th 2012 | Views:
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Merchants as well as manufacturers who are to undertake import of various goods to Australia should know in detail “how to import into Australia?” A thorough knowledge of the customs rules and regulations that are prevailing in Australia will enable them to carry out their import activities with no hassles. Those who fail to adhere to the rules and regulations may have to face legal actions for violation of international rules as well as rules in Australia. All merchants must have the statutory permit for import and quarantine which should be produced to the concerned authority when called for. Those who want to function as custom brokers should obtain proper license. Importers can also hire the services of freight forwarders for proper management of documentation, packaging and shipping. The tariff schedules of Australian Customs Tariff Act 1995 will provide the guidelines as well as different schedules for tariff. Those who want to import goods to Australia should have clear idea about the various restrictions for import of different type of goods like chemicals etc. Proper registration must be obtained for such products after paying the registration charges. In the customs act of Australia there are sections for unaccompanied effects which are to be considered prior to the import.

In order to know in advance whether it will be profitable to import goods to Australia one should have clear idea about the expenses that will be incurred by way of taxes, fees etc. It is all the more important to consider the exchange rate between Australian dollar and currency of the country from where the import is made. The insurance formalities arae also should be complied with. By referring the website of the Australian Customs and Border Protection Service one can get full details pertaining to how to import into Australia. Any importer at Australia should have exact information regarding the market potential for the importing goods. Though international trade is widespread in Australia, it is not a thickly populated country and also the standard of living is quite high.

For import of tobacco, alcohol etc and also when the total value of the goods are above A$1000 Duty, GST and other taxes will be levied. The Duty, GST etc are calculated based on the custom value of the goods. The total amount paid in Australian currency by the importer of the goods will be the customs value of the imported goods. By adding together the Customs value, freight charges, insurance amount, Duty and WET the VoTI (Value of Taxable Importation) is calculated.

Samheronn - About Author:
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