Importing goods into Australia may help open your business to a larger market. However, there are many restrictions, requirements, and regulations when it comes to buying and selling products overseas.
One of these requirements is a declaration for imported goods, and it may be a little complicated for first-time importers. If you are interested in bringing goods into Australia, you should learn more about this declaration and why it’s required.
Overview of Declarations for Imported Goods
The Department of Home Affairs regulates the import of goods, including the various duties and taxes that you need to pay. Typically, there are no duties or taxes for goods that have a value of AUD 1000 or less. However, products such as alcohol or tobacco are taxed regardless of the value.
The import declaration is a statement that provides necessary information about the goods that you want to import. It also includes details about your business and how you intend to transport or store the goods.
Most importers lodge their declaration through the Integrated Cargo System (ICS). However, you may also submit the declaration by using the appropriate paper form.
There are three types of the declaration. The type that you use depends on the value of the goods and your plans to store them in a warehouse.
Self-Assessed Clearance Declaration
The self-assessed clearance (SAC) declaration may only be used if the value of your goods arriving by sea or air value less than AUD 1000. However, if the goods that you are importing in Australia require a permit for import, you must use either the standard import declaration or the long-format SAC declaration form.
Import Declaration – Nature 10
For goods with a value over AUD 1000, you need to use the import declaration. The N10 form is used for many goods that come into the country. This includes goods that arrive by air, sea or international mail. You will also need to pay any applicable taxes, duties, and charges.
Warehouse Declaration – Nature 20
The warehouse declaration is used when you intend to import goods and store them in a warehouse before they are cleared. When storing your goods in a customs-licensed warehouse, you do not need to pay the taxes and duties immediately.
The duties and taxes are paid when you choose to export the goods stored in the warehouse or when you plan to enter the goods into home consumption.
Special Permits and Additional Duties
There are certain goods that are not allowed into Australia or that require special permits. There are also items that are taxed, regardless of their value. These details add to the complication of importing goods.
Consider Hiring a Licensed Customs Broker
First-time importers may find the process of importing goods into Australia exceptionally complicated. The Department of Home Affairs recommends that importers who need assistance with this process hire a licensed customs broker.
A licensed customs broker handles the paperwork, including the import declaration, to help ensure that your goods are allowed into the country. These brokers also assist with logistics, clearance, transport, and warehouse solutions.
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