This order cancels a previous tax break (called a tariff concession) that allowed a specific plastic resin to be imported into Australia without paying standard customs duties.
What it does
- Revokes Tariff Concession Order 1022426 with effect from 19 August 2010
- Removes the duty-free or reduced-duty status for polyoxymethylene copolymer resins (a type of engineering plastic used in precision parts and gears)
- From the revocation date, these resins attract standard customs duties under tariff classification 3907.10.00
Who it affects
- Importers and distributors of polyoxymethylene copolymer resins
- Manufacturers using these resins in production (automotive, electronics, and consumer goods industries)
- Customs brokers handling these imports
Why it matters
The revocation increases import costs for these specific resins, as they will no longer benefit from the concessional duty rate. Businesses importing these goods will need to account for additional customs duties from 19 August 2010 onward.