Importing Goods To Australia Is Easier Than You Think…
If you are an overseas manufacturer or wholesaler and you’re planning on importing goods to Australia, then your knowledge of Australian customs rules and regulations (as established by Australian authorities) will be essential to your success. Failure to maintain compliance with these regulations is a violation of domestic and international laws and must be abide by, to create a successful business.
As a merchant, you must obtain import and quarantine permits that must be presented to the domestic customs broker upon demand.
Before You Can Begin Importing Goods To Australia
Before you can begin importing goods to Australia, you need to familiarize yourself with the various restrictions that are placed upon different types of cargo. For example, certain industrial chemicals used for commercial purposes must undergo registration with the National Industrial Chemicals Notification and Assessment Scheme (NICNAS), for which you will pay a fee for this registration.
You also need to review the tariffs schedules as set forth by the Australian Customs Tariff Act 1995.
If you will be acting in the capacity of a customs broker you will need to obtain licensing.
You also need to take into consideration the other laws governing unaccompanied effects. If you are not going to organize all the paperwork yourself you may choose to nominate a freight forwarder, who will manage the packaging and shipping of your goods, this is highly recommended.
Direct Costs When Importing Goods To Australia
You must also consider the other direct costs associated with importing to Australia. Obviously, importing goods to Australia only makes sense if it is profitable, so you will need to take fees and taxes into consideration. You also need to take into account the exchange rates between the currency of the merchant countries and that of the Australian dollar. Please take note that over the last 20 years the Australian dollar has fluctuated from fifty cents in the dollar to parity with the USA dollar. Failure to do a cross examination of this information can mean you actually lose money rather than make a profit.
Furthermore, you need to be wary of any insurance requirements that your shipment must be in compliance with, in order to import goods to Australia.
When you are doing your research remember that all of this information is available through the Australian Customs and Border Protection Service website, that you can find by doing a search on Google.
Even before you take into consideration all the other costs associated with Importing goods to Australia, first make sure you do an analysis of the size of the market and the potential for growth. Being an island, international trade has been an integral part of Australian life but remember that the population is relatively small and the land mass is enormous. Also the Australian population has a relative high standard of living and an appetite for consumption not dissimilar to that of the USA.
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