Green Light for GST Changes Levels Playing Field for Retailers
16 November 2017
In response to global online retailers coming to Australia, from 1 July 2018, low value goods that cost $1,000 and under, supplied by overseas retailers to Australian consumers, will become taxable supplies.
A Productivity Commission report released on 9 November 2017 has advised the changes will require close monitoring to ensure enforcement.
Sellers of low value goods into Australia should consider the impact of these rules on their businesses and current arrangements. Australian retailers should take appropriate steps to prepare including identifying supplies of low value goods to Australian consumers.
This BDO Tax Industry Insight for the Retail Sector contains:
- A summary of the new legislation including GST Taxing Points
- The outcomes from the Productivity Commission report
- Commentary on overseas online retail giants entering the Australian retail market
- How BDO can assist suppliers prepare for the changes.