ACIS is a $2.8 billion transitional assistance scheme directed towards encouraging new investment and innovation in the Australian automotive industry in the context of a reduction in the automotive tariff on passenger motor vehicles and automotive components from 15 per cent to 10 per cent in 2005.
The scheme rewards strategic investment, research and development, and the production of eligible motor vehicles through the issue of import duty credits to registered participants. These credits can be used to discharge customs duty on eligible automotive imports, or alternatively, can be sold or otherwise transferred.
On 13 December 2002, the Government announced a $4.2 billion extension of ACIS, along with a further reduction in automotive tariffs. In line with our commitments to trade liberalisation, tariffs on automotive imports will be reduced to 5 per cent in 2010. To assist the automotive industry in adjusting to this lower tariff regime ACIS will be extended until 2015.
ACIS is administered by AusIndustry. Specific details are available at
the AusIndustry website.