Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Wayne Swan MP and the Minister for Home Affairs, the Hon Bob Debus MP)Chapter 4 - Chilean originating goods
Outline of chapter
4.1 This chapter explains amendments to Schedule 7 to the Customs Tariff Act 1995, contained in Part 2 of Schedules 2 and 3 to the Customs Tariff Amendment (2009 Measures No. 1) Bill 2009.
Summary of new law
4.2 The Customs Tariff Amendment (Australia-Chile Free Trade Agreement Implementation) Act 2008 entered into force on 6 March 2009. The Customs Tariff Amendment (Australia-Chile Free Trade Agreement Implementation) Act 2008 created a new Schedule 7 to the Customs Tariff Act 1995 specifying rates of customs duty for certain goods, including alcoholic beverages that are Chilean originating goods under the Australia-Chile Free Trade Agreement.
4.3 The amendments to be made to Schedule 7 reflect the amendments made in Schedule 3 to the Customs Tariff Act 1995. The amendments to Schedule 7 reflect the restructure of subheadings in heading 2203 and 2206.
4.4 These amendments will also ensure that the provisions of this Act will apply to beer and wine products that are Chilean originating goods, in accordance with the Australia-Chile Free Trade Agreement.
Application and transitional provisions
4.5 Changes to Schedule 7 to be made to the Customs Tariff Act 1995 will have effect from 1 July 2009.