This order cancels a previous tax break on specific imported industrial cables.
What it does:
- Revokes Tariff Concession Order 0607263 (made in August 2006)
- Affects: Industrial electronic cables classified under tariff code 8544.59.00 that have:
- Copper braid or aluminium foil shielding
- PVC insulation at least 0.3mm thick
- Four or more pairs of wires
What this means:
A tariff concession is a special exemption that lets importers bring goods into Australia without paying full customs duty (import tax). By revoking this concession, the government is ending that tax break. From 1 November 2006, anyone importing these specific types of cables must pay the full customs duty rate instead of the concessional (reduced) rate.
Why it matters:
This increases the cost of importing these industrial electronic cables into Australia, which may affect businesses that rely on imported cable for manufacturing or infrastructure projects.