Customs duties are based on the customs value, which is the “transaction value” (actual or projected price of the goods) converted to Australian currency at the date of import. Use of the transaction value negates any relationship between seller and buyer that could influence the price. Calculating the GST to establish the taxable importation value is a little more complicated. GST is calculated by adding the customs value, cost of international transport and insurance, customs duty and the Wine Equalization tax, if applicable. The GST to be paid is generally 10 percent of the total of all of the amounts listed above. Consultation with customs brokers or the Customs Information Centre can be of assistance when trying to determine the valuation of imported goods.
The import of vehicles into Australia is heavily controlled by the Australian Government, according to the Unique Cards and Parts website. A completed Import Approval Permit must be approved by the DoTars Government Agency and accompany the vehicle at the time of import. Payable duties and taxes are based on the age of the vehicle or motorcycle and the type of vehicle. Vehicles purchased prior to March 2, 1998, may qualify for a depreciation allowance of up to 76 percent. A luxury car tax could be imposed if the total GST value of the vehicle is in excess of an amount set annually by the Australian Tax Office. If the vehicle is newer than 30 years old a compliance certification is required. Some areas of compliance include weighbridge certification, personal import compliance plate, child restraint anchor points, an imported Blue Slip which ensures roadworthiness for the Roads & Traffic Authority, and replacement of the driver side door mirror to the correct standard.
Temporary goods may be imported into Australia for a period of up to 12 months, according to the customs.gov.au website. A carnet, which is an international “passport for goods,” is required to import qualified temporary goods. Under a carnet an overseas issuing company guarantees the payment of duty and taxes. Chambers of Commerce or automobile associations are common overseas issuing bodies. Carnets must be obtained prior to entering Australia and greatly speed up the clearance process on both ends of the spectrum: the importer and customs. The identity of the importer, the nature of the goods and the use of the goods while they are in Australia must be reported to obtain a carnet. Carnets may also be used to export Australian goods. Temporary imports carry conditions, one of which is that the goods be exported within the approved timeframe.
