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CUSTOMS (AUSTRALIA-US FREE TRADE AGREEMENT) REGULATIONS 2004 2004 No. 288 - REG 4.2

Value
(1)
For Division 1C of Part VIII of the Act, and these Regulations, the value of materials is to be worked out using the principles set out in the following table.

Item


Materials


Principles


1


Materials imported into the US by the producer of goods that are produced using the materials


The value is the value (the US adjusted value ) worked out under Section 402 of the Tariff Act of 1930 of the US, as amended by the Trade Agreements Act of 1979


2


Materials:

(a) acquired by the producer of goods that are produced using the materials; and
(b) not imported into the US by the producer of the goods


The value is the US adjusted value, worked out as if the materials had been imported into the US and as if the producer of goods that are produced using the materials were the importer


3


Materials that are self-produced


The value is the sum of all costs incurred by the producer of the materials in producing the materials, including:

(a) the producer's general expenses; and
(b) an amount for profit that is the equivalent of the amount of profit that the producer would make in respect of the materials in the ordinary course of trade


(2) If the materials are originating materials, the value of the originating materials may include the costs of the following matters, to the extent that they have not been taken into account under subregulation (1):

(a)
freight, insurance, packing, shipping and any other transportation of the materials to the producer:

(i)
in the US; or
(ii)
between Australia and the US;
(b)
duties, taxes and customs brokerage fees on the materials that:

(i)
have been paid in either or both of Australia and the US; and
(ii)
have not been waived or refunded; and
(iii)
are not refundable or otherwise recoverable;
including any credit against duties or taxes that have been paid or that are payable;

(c)
waste and spoilage resulting from the use of the materials in the production of goods, reduced by the value of renewable scrap or by-products.

(3) If the materials are non-originating materials, the value of the non-originating materials may include the costs of the following matters, to the extent that they have not been taken into account under subregulation (1):
(a) freight, insurance, packing, shipping and any other transportation of the materials to the producer:

(i)
in the US; or
(ii)
between Australia and the US;
(b)
duties, taxes and customs brokerage fees on the materials that:

(i)
have been paid in either or both of Australia and the US; and
(ii)
have not been waived or refunded; and
(iii)
are not refundable or otherwise recoverable;
including any credit against duties or taxes that have been paid or that are payable;

(c)
waste and spoilage resulting from the use of the materials in the production of goods, reduced by the value of renewable scrap or by-products;

(d)
originating materials that are used in the production of the non-originating materials in the US;

(e)
other costs incurred in Australia or the US in the production of the non-originating materials, reduced by the cost of materials used in their production.


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