What this does: This order gives importers a tax break (tariff concession) on specific types of silicone sealants brought into Australia.
Who it affects: Businesses importing silicone sealants classified under customs tariff code 3214.10.00, specifically:
- Neutral cure sealants
- Acetic cure sealants
- Medium modulus elastomeric sealants
Why it matters: Instead of paying standard import duties, importers of these specific silicone products can apply for concessional treatment under Item 50 of the Customs Tariff Schedule. This reduces the cost of importing these goods, typically benefiting the construction, manufacturing, and hardware sectors.
How it works: The order was made by a delegate of the Australian Border Force (under the Customs Act 1901) and took effect on 14 November 2006. It remains valid indefinitely until revoked or replaced.