underdeclaring is actually illegal,
"You must tell us the true and correct value of the goods (that is the amount you paid for the goods) for each type of goods listed (see example below – 2 digital cameras US$700 ea). Customs and Border Protection can demand to see your invoices or other evidence that shows what you paid. Do not provide values you know to be incorrect (even when those values are provided by the supplier). Undervaluing goods is an offence under the Customs Act 1901."
2ndly if your shipment got lost or damaged, you will be covered to the amount you put the value. so if it is $5000, and you say its $600, anything happen to the cargo. it will be $600 only you will be covered.
people assume it will never happen to me, reality is, i heard true story people get burn. wings damaged, parts missing. etc.
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