Applying GST To Low Value Goods Imported By Consumers
4 November 2016 | Exposure Draft
The Government has released exposure draft legislation and associated explanatory material that would amend the goods and services tax (GST) law to give effect to the 2016-17 Budget decision to apply GST to low value goods imported by consumers.
From 1 July 2017, the law will require overseas vendors, electronic distribution platforms and goods forwarders to account for GST on sales of low value goods to consumers in Australia if they have GST turnover of $75,000 or more.
The intention is that low value goods imported by consumers in Australia will face equivalent GST treatment to goods that are sourced domestically.
Scand International