The Australian Border Force (ABF) has issued Australian Customs Notice No. 2023/50:
‘Customs Tariff Changes 1 January 2024.’ (in PDF format).
The notice advises that from 01 January 2024, the preferential rates of customs duty for certain Indian, Regional Comprehensive Economic Partnership Agreement (RCEP) and United Kingdom (UK) originating goods will be reduced.
Australia-India Economic Cooperation and Trade Agreement
From 01 January 2024, the preferential rate of customs duty for Indian originating iron, steel and articles of iron and steel will be reduced from 3% to 2%.
Regional Comprehensive Economic Partnership Agreement
From 01 January 2024, the preferential rates of customs duty will be reduced or eliminated for certain RCEP originating goods, including certain vegetable products, prepared food stuffs, beverages, mineral products, textiles, machinery and vehicles. The size of the reduction in preferential duty, if any, varies between goods.
The ABF encourages importers to check if there has been a change in the duty rate of their RCEP originating goods.
Australia-United Kingdom Free Trade Agreement
From 01 January 2024, the preferential rate of customs duty for UK originating cheese and curd will be reduced from $1.02/kg to $0.81/kg.
The preferential rate of customs duty for certain UK originating iron, steel and articles of iron and steel will be reduced from 4% to 3%. The preferential duty rates for goods covered by the Customs Tariff (Suspension of Preferential Tariff for Certain UK Originating Goods) Notice 2023 will be maintained at 5%.
The ABF encourages importers to check if there has been a change in the duty rate of their UK originating goods.
The ABF further advises that scheduled duty rate reductions under these Free Trade Agreements are provided in the Online Tariff, and add that, as the Tariff Working Pages currently reflect these changes, new working pages will not be issued.
Also see our article from earlier this year: Customs Bylaws Sunsetting.
Colless Young offers you professional advice on all matters related to Customs clearance and quarantine procedures. As licensed Customs Brokers and International Freight Forwarders, we provide a complete range of logistics services, both air and sea cargo, through all Australian ports and airports. We handle imports, exports, trucking, warehousing and fumigation treatment.
