What this does
This order allows personalised piggy banks to be imported into Australia duty-free (or at a reduced customs duty rate).
How it works
Under Australian customs law, most imported goods attract a tariff (import duty). A Tariff Concession Order removes this duty for specific products when no Australian manufacturer currently makes substitutable goods. This order applies exclusively to plastic personalised piggy banks falling under tariff classification 3926.40.00.
Who it affects
- Importers: Businesses bringing personalised piggy banks into Australia benefit from the duty exemption.
- Local manufacturers: Any Australian company that starts making similar personalised piggy banks can apply to have this order revoked, restoring the standard duty rate to protect local industry.
Duration
The concession took effect on 30 July 2007 and remains in force indefinitely until revoked under the Customs Act (either because local manufacturing begins, or the order is cancelled for other reasons).