The Australian Government has announced they would abolish almost 500 nuisance tariffs from 1 July 2024. This includes a wide range of imported items such as toothbrushes, hand tools, fridges, dishwashers, clothing, and menstrual and sanitary products.
“This is the biggest unilateral tariff reform in at least two decades,” said the government in a press statement.
“It will cut compliance costs, reduce red tape, make it easier to do business, and boost productivity.”
The move involves 14 per cent of Australia’s total tariffs and will streamline approximately $8.5 billion worth of annual trade, saving business over $30 million in compliance costs each year.
Examples of products subject to the removal of the five per cent customs duties include:
- Washing machines with annual imports worth over $490 million, raise less than $140,000 in revenue per year.
- Fridge‑freezers with annual imports worth over $668 million, raise less than $28,000 in revenue per year.
- Tyres for agricultural vehicles, tractors or other machines with annual imports worth over $102 million, raise less than $10,000 in revenue per year.
- Protective footwear with annual imports worth $160 million, raise less than $112,000 in revenue per year.
- Toothbrushes with annual imports worth over $84 million raise less than $22,000 in revenue per year.
- Menstrual and sanitary products with over $211 million worth of annual imports, raise less than $3 million in revenue per year.
- X‑ray film with over $160,000 in annual imports, raise less than $200 in revenue per year.
- Chamois leather with $100,000 in annual imports, raise less than $1,000 in revenue per year.
- Pyjamas with almost $108 million in annual imports, raise less than $120,000 in revenue per year.
- Fishing reels with over $50 million in annual imports, raise less than $140,000 in revenue per year.
- Rollercoasters with over $16 million in annual imports, raise less than $40,000 in revenue per year.
- Dodgem cars with over $2 million in annual imports, raise less than $15,000 in revenue per year.
- Ballpoint pens with annual imports worth over $57 million, raise less than $95,000 in revenue per year.
- Toasters with annual imports worth over $49 million, raise less than $1,000 in revenue per year.
- Electric blankets with annual imports worth over $31 million, raise less than $5,000 in revenue per year.
- Bamboo chopsticks with over $3 million in annual imports, raise less than $3,000 in revenue per year.
Consultation on the proposed initial reforms has started, with submissions open on the Treasury website and closing 1 April 2024.
A full list of tariffs to be abolished will be finalised and provided in the Budget.
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