CANBERRA – The Australian government will lift import tariffs on a wide range of consumer goods, including toothbrushes, chopsticks and pens, in an effort to lower rising household living expenses and business costs.
The government said almost 500 of what it called “nuisance” tariffs, accounting for 14 per cent of Australia’s total tariffs, will be abolished from July 1, according to a statement on March 10.
It estimates that companies will save more than A$30 million (S$26.5 million) in compliance costs a year, while A$8.5 billion of annual trade will be streamlined.
“By abolishing hundreds of import tariffs, we’ll reduce red tape, boost productivity, ease the burden on mall businesses and help to cut the cost of doing business,” Treasurer Jim Chalmers said in the statement.
Other household and business goods included in the exemption:
- Fridge-freezers, dishwashers, washing machines, toasters
- Pyjamas, protective footwear, electric blankets
- Feminine sanitary products
- Tyres for agricultural vehicles
- Roller coasters, bumper cars
- Fishing reels
- X-ray film
The government called the changes the “biggest unilateral tariff reform in at least two decades”.
It said: “The tariffs identified have been selected because their abolition will deliver benefits for businesses without adversely impacting Australian industries or constraining Australia in sensitive FTA (free trade agreement) negotiations.” BLOOMBERG
