Leonie Ferretter and Claire Sing discuss the Australian Trusted Trader (ATT) Program.
The Australian Trusted Trader (ATT) Program is a voluntary trade facilitation program that offers certain benefits to ‘trusted traders’ provided the business is trade compliant and has sufficient supply chain security controls in place. There has been significant interest in the program, particularly given that trusted traders will be offered duty deferral and streamlined reporting arrangements (slated for introduction later this year). Streamlined reporting is expected to result in significant savings to traders through a reduction in processing costs.
Other key benefits include:
Currently, the ABF has accredited 111 traders and 53 service providers with numerous others awaiting qualification. The ABF is aiming to accredit 250 businesses by 1 July 2018 and a maximum of 1,000 businesses by June 2020 to ensure the Program is adequately resourced. With the ABF contemplating an eventual cut-off of trusted traders based on its finite resources to manage the initiative, now is the time for clients to give serious consideration to joining this Program.
Please contact us for a detailed discussion on what ATT can do for your business.
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