This document removes a special tax break (called a tariff concession) that previously allowed certain cyanide manufacturing equipment to be imported into Australia at a lower customs duty rate.
What it does:
- Revokes (cancels) Tariff Concession Order 0516037, originally granted on 13 February 2006
- Removes the concession for specific industrial equipment used to manufacture cyanide, including:
- Reactors
- Boilers
- Absorbers
- Evaporators
- Centrifuges
- Dryers
- Tanks
Who it affects:
Businesses importing cyanide manufacturing plant equipment classified under customs tariff code 8419.40.00.
When it takes effect:
27 July 2011.
Why it matters:
From the effective date, importers of this equipment must pay the standard (higher) customs duty rate instead of the previously concessional rate. This typically occurs when the government determines that similar equipment is now produced locally in Australia, meaning local manufacturers no longer need protection from cheaper imports.