As an alternative to duty drawback, the Tradex scheme allows duty and GST free entry of imported goods, intended for re-export within 12 months. It provides significant cash flow advantages over the drawback scheme.
WHAT IS TRADEX?
It is an Australian Government Scheme that provides up-front exemptions from Customs Duty and GST on imported goods that are intended for direct export or imported goods that are used, lost or wasted in the manufacture of other goods that are exported later on. It is administered by AusIndustry, they advise, “Normally, importers of goods destined for export later on would have to pay customs duty and GST at the time of import and then claim a refund (‘drawback’) after the goods are exported.
Under the Tradex program, duty and GST are exempted up-front and this can deliver significant cash flow advantages.”
OUR TRADEX SERVICE
Curlett, Cannon & Galbell organise your registration, develop in conjunction with your team a well-kept, documented, and efficient record keeping system of all records for compliance and assist in any Australian Customs audits that are required.
For information on any Curlett, Cannon & Galbell services us on +613 9330 2122, or email [email protected]