4.1Value of goods that are originating materials or non‑originating materials

4.1 Value of goods that are originating materials or non‑originating materials

(1) For the purposes of subsection 153ZKB(3) of the Act, this regulation explains how to work out the value of originating materials or non‑originating materials used in the production of goods. (2) The value of the materials is as follows: (a) for non‑originating materials imported into a Party by the producer of the goods—the value of the materials worked out in accordance with the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994; (b) for originating materials acquired, or produced, by the producer of the goods—the value of the materials worked out in accordance with the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 on the assumption that those materials had been imported into a Party by the producer of the goods; (c) for non‑originating materials acquired by the producer of the goods—the earliest ascertained price paid for the materials by that producer. (3) For the purposes of paragraph (2)(a), in working out the value of particular non‑originating materials, the following must be included: (a) the cost of freight of the non‑originating materials to the port or place of entry into the Party; (b) the cost of insurance related to that freight. (4) For the purposes of paragraph (2)(a) or (c), in working out the value of particular non‑originating materials used in the production of goods where the last process of production occurs in a Participating Party, the following may be deducted: (a) the value of any production undertaken on the non‑originating materials in any other Participating Party; (b) the amount of the value added to the non‑originating materials in any other Participating Party.