BEO2004 International Trade Practice

Group Assignment 1 (10% of total subject marks)

Due date: TBA

Submission: An electronic copy of assignment will be submitted via VUC by each group (3-4 students) and the contribution of each student is to be indicated next to each student’s name, with ID number and signature on the cover sheet.

Weight: 10% of total subject mark

Return of assignment: Marks will be uploaded on VU Collaborate

Assignment Instructions:

1. Identify the custom classification code for each listed product in Table 1.

https://www.abf.gov.au/importing-exporting-and-manufacturing/tariff-classification

2. Calculate amount of duty payable on entering the products for local consumption in Australia.

• Provide hard copy of foreign exchange rate used for calculations

3. Calculate the VoTI for each product for each country (Refer to pp.110-115 of the prescribe textbook)

4. Calculate the total cost of each product at the end of the customs clearance process.

Please note:

• Freight costs are for sea transport from the country of origin to Melbourne Victoria Australia

• In calculating the costs, you will have to convert all these to Australian Dollars.

• Cost of goods given as an equivalent FOB value for customs purposes

5. Complete Import Declaration (N10) form for the product you have calculated as the cheapest in total.

• Import Declaration form (N10) Template is available on VU collaborate.

• There is no option in deferring GST.