How is the value of goods calculated?
The Customs value of goods imported into Australia is based on information (in particular, the value of the goods) as advised by the importer.
When the goods are valued at more than A$1000 threshold, or include alcohol or tobacco products of any value, a Customs value will be determined that is used as the basis for calculating the value of any duty and/or GST.
The Customs value is combined with other items (customs duty,
international transport and insurance costs and, where applicable, Wine Equalisation Tax) to produce the value of the taxable importation (VoTI). The Customs value is equivalent to the Australian currency purchase price of the goods.