Explanatory Memorandum(Circulated by authority of the Minister for Justice and Customs, Senator the Hon Christopher Martin Ellison)
Financial Impact Statement
The combined result of the amendments proposed in this Bill, the Import Processing Charges Bill 2000 and the Customs Depot Licensing Charges Amendment Bill 2000, is that there is an anticipated decrease in costs for Customs of approximately $3.0m in the first year of full operation (noting that the amendments will commence over time as the systems developments necessary for them to operate come on line). That continues to some extent for the next two years where the anticipated savings for Customs is estimated at $2.56m and $1.92m respectively. Combining this with the anticipation of full cost recovery, the results of the cargo management reforms will significantly benefit Government.