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Your Guide To The Tradex Scheme

Enjoy Customs duty and GST exemptions, optimise cash flow, and enhance global competitiveness with the Tradex Scheme

by Sarah McLean

24 June 2024

Learn how the Tradex Scheme can transform your fashion and textile business. It offers significant savings on imports and enhances your export capabilities.

Take advantage of this government program to elevate your business in the global market.

What is the Tradex Scheme?

The Tradex Scheme, run by the Department of Industry, Science and Resources, offers Australian importers who export goods an upfront exemption from Customs duty and GST. This boosts competitiveness by reducing the financial burden of import taxes, encouraging greater global market participation.

Who is it For?

It primarily targets importers who plan to export their goods into Australia. It is ideal for:

  • Importers of goods for processing, treatment, or incorporation into other products for export.
  • Importers of goods in their original state can export without any alterations.
  • Importers who can maintain detailed records tracking the movement of goods from import to export to comply with the Tradex Scheme Act 1999 and Tradex Scheme Regulations 2018.

How Can Fashion & Textile Businesses Leverage the Tradex Scheme?

Optimise Cash Flow & Reduce Costs:

  • Save on import duties and GST for raw materials, fabrics, and finished products intended for export.
  • ¬†Avoid tying up funds in import taxes, allowing for reinvestment in operations like manufacturing, product expansion, and marketing.
  • Lower import costs to price products more competitively in global markets.
  • Apply for an order anytime and add new goods easily, reducing administrative burden.
  • Use financial relief to explore new export opportunities and expand market reach.

Steps to Apply

    1. Eligibility Check
      Ensure your goods qualify under the Tradex Scheme. Eligible goods must be imported and exported in their original state, after processing or treatment, or as part of other products.
    2. Application Process

    3. Record Keeping
      Use good record-keeping and accounting systems to track the movement of goods from import to export, ensuring compliance with all regulatory requirements.
    4. Order Management
      Once you obtain an order, it remains valid indefinitely, allowing additional goods to be added without needing new applications for each shipment.

By leveraging the scheme, members can enhance their operational efficiency, reduce costs, and expand their footprint in the international market, ultimately driving growth and success in the competitive global landscape.

For more information visit their website or to participate in the Tradex Scheme evaluation, contact tradex@industry.gov.au.

 

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