Freight & Trade Alliance (FTA) and the Australian Peak Shippers Association (APSA) have received advice from the Australian Border Force (ABF) in terms of expanded benefits for Australian Trusted Traders: - Expansion of ATT Origin Waiver benefit
The Origin Waiver benefit for Australian Trusted Traders has been expanded to the following trade agreements.- Indonesia-Australia FTA (IA-CEPA)
- Australia-Hong Kong FTA (AHKFTA)
- Peru-Australia FTA (PAFTA)
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
- Pacific Agreement on Closer Economic Relations (PACER) Plus
Australian Customs Notice 2020/43 provides further detail- Periodic Payments benefit
The Assistant Minister for Customs, Community Safety and Multicultural Affairs, the Hon Jason Wood recently announced the Periodic Payment benefit for eligible Australian Trusted Traders. This measure will enable Australian Trusted Traders to pay ABF-collected import related fees and charges on a monthly basis (on the 21st day of the month following the month in which the goods are imported), rather than on a transaction basis. The measure is expected to become available by mid-2021.
The benefit will initially be available to eligible Australian Trusted Traders who defer payment of GST through the GST deferral scheme (i.e. importers). It will allow deferred payment of: Import Processing Charge (IPC), Wine Equalisation Tax (WET), Luxury Car Tax (LCT), Agriculture Processing Charge, and the Wood Levy. This extends the existing ability for Australian Trusted Traders to defer payment of customs duty, including anti-dumping duty, which was introduced to the program in 2018.
The ABF have advised they will provide more information on the benefit in 2021. |
|