If you are planning to set up a new business in Australia that involves importing, there is much to learn. Importing goods into any country is a rather complex issue, what with different tariffs and free trade agreements to consider, not to mention having the goods classified, which will determine the amount you have to pay to have the goods allowed into the country.
Licensed Customs Brookers
There are only two parties that are permitted to apply for goods to be cleared; the owner of the said items or a licenced customs broker, and due to the complex nature of importation, you are advised to use a professional customs broker service who is already well established. They are the only people who know the process inside out, and they will keep you informed at every stage of the process, which really does help you to plan.
Green and Red Line Status
There are two main categories of imported goods into Australia; green line status, which is rather streamlined, and red line status, which are products that the government deems it necessary to go into more detail. The best way to find out what status of the products or materials you wish to import is to talk to a licenced customs broker, who can very quickly give you an answer. Red line goods are subject to random inspections, and with so much stuff going through the port, this can take some time to carry out. In the event your items are classified as green status, the procedure is quite streamlined, providing, of course, that the paperwork is correct.
Planning your Business
You already know how important your business plan is, and without knowing the tariffs and taxes involved with importing, you cannot accurately calculate your profit margins, and for that reason you should approach a licenced customs broker while still in the planning stages. Some business owners have overlooked this and by the time they are ready to import, they get a nasty surprise when they find out that the items they wish to import are heavily taxed. In order to crunch the number regarding profit and loss, it is vital that you know all of the importation costs in advance.
Reduce the Risks of Clearance Delays
If you join forces with an established licenced customs broker at the very outset, you are reducing the chances that your goods will be delayed at customs, and with the broker’s expertise, you will soon be able to take possession of the goods, which will enable you to meet your commitments. As far as beaurocracy is concerned, the Australian government have a streamlined system in place, and with all the paperwork, the process is much quicker than in some countries. Obviously, green line status goods will be cleared faster than red line status items, and there is always the chance that the customs officers decide to carry out a random inspection of your consignment.
Hooking up with a licenced customs broker from day one will ensure that your business will not be help up by import delays, and this will mean you can plan effectively.
