The TGA have begun issuing notices to sponsors for existing ARTG entries that have been assessed as eligible for an initial Annual Charge Exemption (ACE) under the proposed scheme. The new ACE scheme will replace the current low value turnover (LVT) scheme.
Between 1 July and 22 July (annually from July 2016) – sponsors must self-declare that entry had $0 turnover in the previous financial year in order to maintain the exemption for each entry. The sponsor may notify the TGA of the commencement of turnover for that entry at any time during the year. This notification can be made online through the TGA Business Services site or submitted by completing a paper form by downloading a ‘Declaration of Low Value ($0) Turnover’ from th