hi, i just bought an ip a few monthes ago and now that things have settled down and i’ve managed to save up a small sum of $$$.
i’m wanting to use that $$$ to start a small retail business. Selling toys imported from china. I’m planning to import initially a batch of toys worth $2000 AUD. i’ve tried reading info on the australian customs website but can’t find the info i need. so i was hoping someone can answer me a few questions.
1) when the goods arrive at customs, what happens?
2) how much duty do i have to pay?
3) how do i pay it?
4) do i need any permits or sign any forms before the goods are delievered to my address?
5) should i consult with an accountant before i go ahead?
thanks to whoever can answer these questions, much appreciated!
I beleive customs will hold your goods until the duty is paid. The duty varies depending on the type of good imported (and maybe the country of origin). There is a number you can ring so ask – it is on the customs web site. AS far as I know, you can pay by all the usually methods. transfer, deposit, cc etc and you don’t need any permits if importing general items. Some items such as food, wood prodcuts etc may need some sort of permit.
I don’t know if an accountant would be able to help you with much. There are some Aussie books, and cheap courses available on importing. There are also various trade fairs happening in China all the time, one in Guangzhou recently.
Terryw
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[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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