Commonwealth legislation

Customs By-law No. 1303871

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This by-law gives importers a customs duty concession (reduced or no import tax) on a specific chemical called isopropyl myristate — an ingredient commonly used in moisturisers, makeup and other beauty products.

Who it affects: Businesses importing this chemical to manufacture cosmetics in Australia.

Key requirements:

The chemical must be used solely for formulating cosmetics (making beauty products)
The importer must provide security (a bond or deposit) to Customs. This acts as a guarantee that the rules will be followed. If the importer uses the chemical for something other than cosmetics, they lose the security and must pay full customs duty.

In short: It makes importing cosmetic ingredients cheaper for legitimate manufacturers, while ensuring the tax break isn't misused.

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Current sections

Direct links to the current provisions in Customs By-law No. 1303871.

Customs By-law No. 1303871

CUSTOMS ACT 1901

CUSTOMS TARIFF ACT 1995

SCHEDULE 4

BY-LAW No. 1303871

I, Geoff Johannes, delegate of the Chief Executive Officer, under section 271 of the Customs Act 1901 make the by-law set out in the Schedule below.

In the by-law set out in below “security” means the security given (under section 42 of the Customs Act 1901) to, and to the satisfaction of, the Collector by the importer.

THE SCHEDULE

Item 48

Schedule 4

This by-law may be cited as Customs By-law No. 1303871.
This by-law shall take effect on and from 1 March 2013.
For the purposes of item 48 of Schedule 4 to the Customs Tariff Act 1995, isopropyl myristate, classified under subheading 2915.90.00 in Schedule 3 to the Customs Tariff Act 1995 is prescribed.
The application of item 48 to the goods in paragraph 3 is subject to the condition that the goods are for use in the formulation of cosmetics, UNDER SECURITY.
For the purposes of this by-law, the “Customs Tariff Act 1995” means the Customs Tariff Act 1995, as amended or proposed to be altered.

Dated this twenty fifth day of February 2013.

(signed)

Geoff Johannes

Delegate of the

Chief Executive Officer

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Customs By-law No. 1303871