The Treasurer’s Guide to Trade Finance

(Martin Jones) #1

Australia


Tariffs/Taxes


Imports


ƒ 46% of imports are tariff exempt.


ƒ An average tariff of 2.9 percent is levied on
imports.


ƒ A maximum 5 percent import tariff applies to
most manufactured goods.


ƒ Tariffs of up to 10 percent apply to shoes,
textiles and clothing products (5% from
1 January 2015).


ƒ Tariff concessions are usually possible for
products for which there is no domestic
manufacturer.


ƒ No tariffs are levied on imports from New
Zealand.


ƒ Imports from East Timor and the world’s
least developed countries may be exempt
from duty or attract preferential rates.


ƒ In accordance with the South Pacific
Regional Trade and Economic Cooperation
Agreement (SPARTECA), non-reciprocal
preferential tariffs are applied by Australia
and New Zealand to imports from their 13
fellow Pacific Islands Forum member states.


Exports


ƒ None.


Financing requirements for imports/
exports
ƒ None.

Prohibited items
Imports
ƒ Imports that are prohibited in accordance
with UN Security Council resolutions, such
as items deemed a threat to fauna and flora
and national security or those deemed as
morally dubious.
Exports
ƒ Exports that are prohibited in accordance
with UN Security Council resolutions.
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