Reduced supply chain costs
Benefits available for certified traders under Australian Trusted Trader will simplify and streamline supply chain process, resulting in reduced costs.
Priority trade services
Australian Trusted Trader will provide accredited businesses front of queue access when seeking tariff, valuation and origin advices, duty drawbacks and refunds of customs duty.
Speed to market
Accreditation may provide a significant reduction in physical examination, improving speed to market.
Trusted traders will also be afforded priority when goods are selected for inspection, and where appropriate, non-intrusive inspection equipment and techniques will be used.
Trusted traders can access simplified procedures for the clearance of imports/exports and consolidate import/export declarations on a periodic basis. Streamlined and periodic reporting will significantly reduce costs to import/export and may create opportunities for ‘in-sourcing’ of the customs broker function.
Reduced cost to comply
Australian Trusted Trader has the potential to reduce compliance costs through self policing and five year review cycles. Certification will also result in a reduced risk of penalties and sanctions being imposed in the event of non-compliance as your Trusted status is recognised across the Australian Border Force.
Duty deferral allows trusted traders to pay their duty liability monthly on a deferred basis, similar to the current GST deferral system. This represents a potentially significant cash flow benefit.