17th February, 2023
The Expansion of Duty Deferral Benefit for Australian Trusted Traders:
We want to inform you that The Australian Border Force (ABF) is expanding the Australian Trusted Trader (ATT) Duty Deferral benefit to become Duty Deferral Plus. Duty Deferral Plus will further reduce the regulatory burden and improve cash flows for eligible ATTs.
The ATT Duty Deferral benefit allows eligible Trusted Trader importers to defer the payment of duties collected by the ABF until the 21st day of the following month. Duty Deferral Plus will see this benefit expanded to include additional charges and taxes, including:
- Import Processing Charge
- Wood Levy and Agriculture Processing Charge
- Luxury Car Tax
- Wine Equalisation Tax
Direct charges for services levied on some importations will still require payment on a transactional basis at the time of import.
Eligibility:
The Duty Deferral Plus benefit is only available to Trusted Trader importers who defer the payment of Goods and Services Tax (GST) through the Australian Taxation Office (ATO) Deferred Goods and Services Tax Scheme. Duty Deferral Plus is not applicable on importations of excise-equivalent goods, and deferral does not apply to excise-equivalent customs duties.
Payment Schedule:
Following the month of importation, Trusted Trader importers will receive an invoice containing the liabilities owed on the 16th day of the month. On the 21st day of the month (or the next banking day), the import liabilities will be drawn from the importer’s nominated bank account. For instance, duty on all applicable goods imported in March will be debited from the importer’s account on 21 April.
Joining Duty Deferral Plus:
Trusted Traders who are already deferring duties will be contacted about arrangements to move to Duty Deferral Plus. Trusted Traders who are not yet deferring their import liabilities can speak directly to their Sales or Customer Service Manager to express interest in signing up for the benefit.
