Relevant facts to keep in mind include:
– For goods that are worth $1,000 or less, there are at the present time no duties, taxes or charges to pay (however see below*).
– For goods that are worth more than $1,000, you are generally required to fill out a special form called an Import Declaration, and pay duties, taxes and charges.
– You will need to pay duties and taxes on some goods (like tobacco or alcohol) regardless of their value.
– Certain types of goods are not allowed to be brought into Australia, such as firearms, or else need special permits.
For more information:
In order for the commutation request to be valid under the ATO’s guidelines, it must not be subject to the discretion of the fund’s trustee or a member at a later date. Likewise, the commutation request must not be dependent on certain events occurring in the future.
Items that you buy over the internet from an overseas source are generally required to abide by the same rules and screening processes that apply to any other “import”. Also the usual duties or taxes should apply. Customs duties are regulated by the Department of Home Affairs (a recently formed body from December 2017, which now oversees the Australian Customs Service as well as Immigration and Border Protection).
The Department of Home Affairs may screen, x-ray or examine your goods just like any other imported items to make sure the goods are allowed into Australia. The Department of Agriculture may also need to clear and inspect items before they can be delivered to you.
*GST is to be extended to low value imports from 1 July 2018.
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Carmen Du is a Chartered Accountant in the Brisbane office, delivering tailored financial advice with expertise in consolidation and reporting to support business growth.
