Seabridge Global Logistics News
AS addressed previously, on 1 July 2017, GST will be payable on all consignments regardless of their value. Mr Andrew Hudson, Partner of Rigby Cooke Lawyers offers the following thoughts on what this will mean for Australian importers & exporters to Australia.
“For many years, Australian consumers buying goods online from overseas have not been obliged to pay either customs duty or GST on ‘low value transaction’ (LVT) imports where the value of the consignment being purchased was less than $1,000.
That caused complaints from Australian retailers because they had to charge and collect GST on sales as well as pay local charges for income tax, rent, outgoings and staff.
At different stages, Government commissioned reviews of the likely costs of dropping the threshold compared to the likely revenue to be recovered, with those reviews suggesting that the costs probably outweighed the likely GST revenue recovered.”
Read the full article here.