Boost as more tariffs get chop
Hundreds of “nuisance” tariffs on imports including tyres, televisions and wine glasses will be slashed in a move that will save businesses millions of dollars. Abolishing an extra 500 imposts, which increase prices consumers pay for goods and cost more in compliance than they raise in revenue, was a recommendation of Treasurer Jim Chalmers’ economic roundtable earlier in August. “It’s a bit mad, frankly, that in some of these areas where we’re importing a lot of goods, we spend a lot of time and money - we being business and governments - complying with a regime that nets us almost no income and just adds a bigger compliance burden,“ Chalmers told reporters.
AAP Newswire