This order eliminates customs duty (import tax) on a specific type of industrial bearing.
What it covers:
Roller element bearings designed for use in AC rolling mill motors, classified under tariff code 8482.50.00.
What it means:
If you import these specific bearings into Australia, you can bring them in duty-free under Schedule 4, Item 50 of the Customs Tariff. This saves money on importing heavy machinery components used in steel mills and metal processing plants.
How long it lasts:
The concession took effect on 17 August 2007 and remains in place indefinitely until formally revoked under the Customs Act.