On 1 July 2016 the Australian Trusted Trader Program (ATT) commenced following a successful pilot phase that commenced on the 1st July 2015.
The Australian Trusted Trader is a voluntary program that recognises Australian businesses that meet international supply chain security and trade compliance standards. The program has been designed and developed in partnership between the Australian Government and industry with the aim to create a fast and seamless trade experience for Trusted Traders. The ATT is a move towards modernisation of the border environment with the aim of fostering streamlined, reliable, predictable and most importantly secure trade.
By the end of 2020 the program envisages 1000 participants from across all sectors of the supply chain.
What are the benefits of being an Australian Trusted Trader ?
International standing and recognition: Sixty four countries (including all of Australia’s major trading partners) have some form of trusted trader program with over 40,000 international business participants. A further 16 countries are developing Trusted Trader programs.
Enhancing supply chain security and global competitiveness: The ATT will contribute to economic growth and prosperity and was included in the Australian Government’s G20 growth strategy. Through the ATT the Australian Government will develop bilateral Mutual Recognition Arrangements. This will enable participants to access faster clearance times for goods entering our trading partners markets. Currently the Australian Government is working on Mutual Recognition Arrangements with China, New Zealand, Korea, Canada, the USA, the European Union, Japan and Singapore.
Reduced intervention for legitimate trade: The introduction of the ATT is a step away from the one size fits all approach to the clearance of goods crossing the border. By removing unnecessary burden to compliant entities and increasing focus on high risk and unknown entities, the ATT will ensure accelerated clearance of low-risk transactions and increased resources allocated to high-risk and unknown entities.
Industry benefits of ATT: Trusted Traders will be offered a number of benefits which will help foster trade including;
Dedicated Account Manager: Trusted Traders will receive a dedicated account manager who will be the primary contact between the Trusted Trader and the Australian Border Force.
Priority trade services: Trusted Traders will have access to advanced rulings for requests on tariff advice, valuations and origin rulings.
Differentiated and prioritised examinations: Trusted Traders will be recognised as low risk and will be subject to faster border clearance.
Mutual Recognition Agreements: Trusted Traders will have access to trade facilitation benefits in countries with which Australia has signed a Mutual Recognition Agreement.
Streamlined reporting arrangements (from 2017-2018 financial year): Alternative clearance arrangements will be available to trusted traders which will reduce the administrative burden on clearing goods.
Duty Deferral (from 2018-2019 financial year): Duty payments on imported goods will be deferred for a set period from the beginning of 2018-2019 financial year.
What are the costs?
There are no application or ongoing accreditation fees associated with Australian Trusted Trader. However, there might be some business costs associated with meeting the required standards for the program.
How to become part of the ATT?
The ATT program is open to all Australian Businesses that hold an ABN, that are actively involved in the international supply chain and have two or more years of trading and compliance history.
- Check that the ATT is right for your business
- Complete an expression of interest form
- Complete the Self-Assessment Questionnaire (SAQ). Once the expression of interest is complete, an ABF account manager will help you complete an SAQ. The questions in the SAQ explore the business’s international supply chain activities and trade compliance practices
- An Australian Border Force officer will visit the business site to undertake a physical validation.
If accepted, the business will be offered a range of benefits designed to enable easier interaction within the international supply chain regulatory environment.
Magellan Logistics is well placed to assist you with gaining ATT acceptance through the provision of expert advice and guidance. If would like to discuss whether the ATT program is right for your business please get in touch with me on 1300 651 888 or via email@example.com.