As Australians we are blessed with a strong sense of community, our resilience and kindness towards others shows through times like this.
Here at FJT Logistics, we would like to take a moment to share our gratitude to our Prime Minister, Chief Medical Officer, their cabinet and staff for what they have put in place to cope with this worldwide medical and economic emergency.
The hours of work, the enormity of the task and the need for quick, unprecedented and expensive decisions to be made by our leaders are all massive achievements.
Our nation’s leaders are working hard to ensure that we are able to return to our much loved Aussie way of life, with a healthy economy.
Regular readers may recall our recent broadcast on the calue of the Deferred GST Scheme (DGST).
We strongly recommend all eligible importers not currently on the DGST Scheme to apply, not just for the COVID-19 shorter term, but also for the longer-term cash flow benefits.
Applications to register for DGST need to be submitted by April 30.
GST payment is the most significant component of import statutory charges. Accordingly, Freight & Trade Alliance has been working closely over the past 2 weeks with the ATO on the benefits provided to importers under the current DGST Scheme and the potential for further enhancement as a COVID19 relief measure.
While details of any enhanced arrangement are yet to be outlined and clearly require further government consideration, we urge our importer members to register NOW for DGST taking into consideration:
- the unique timing opportunity presented for existing quarterly reporters; and
- to be “first-in” to take advantage of any enhanced COVID19 relief measure associated with the scheme.
In the current economic crisis, the ATO confirmed receipt of significantly increased number applications for DGST registration, and we understand that the ATO have significantly increased automated capabilities, that should process up to 500 DGST applications per day.
New Zealand and Singapore have launched a new trade initiative to ensure supply chain connectivity and the removal of blockages to trade in a list of essential products that includes medicines, medical and surgical equipment, coming into effect from 15 April 2020.
Click for further information
As we near the end of the current BMSB season, please be reminded of the conditions of for goods shipped from 1 September 2019 that arrive in Australian territory by 31 May 2020 (inclusive).
Click for further detail as to what you need to be aware of.