Treasury Laws Amendment Bill 2017 - (GST Low Value Goods) Thoughts?

Lninjutsu on 21/03/2017 - 23:14
Last edited 22/03/2017 - 09:42

Basically if an importer, imports more than $75,000 a year worth of product they will be required to pay GST on anything further imported (they will be exempt from GST for the first $75,000). That includes goods under the value of $1000.

The Australian Government introduced the Treasury Laws Amendment (GST Low Value Goods) Bill 2017 into Parliament, which proposes to extend Goods and Services Tax (GST) to low value goods imported by consumers in Australia from 1 July 2017

It is possible that the Bill may not be passed during the next two sitting weeks and may actually be referred to a Senate committee or inquiry. Whilst an inquiry adds extra scrutiny to Bills before coming law, the threat being that it may delay the introduction of the legislation with a remaining “go live” date of 1 July 2017, shortening an already short implementation window.

http://www.aph.gov.au/Parliamentary_Business/Bills_Legislati…

I didn't see any posts relating to this Bill. Wanted to see the community's thoughts on this. Will definitely effect some of the pricing you see on this site :(

TLDR: Its a bill to tax low value imports (ie under $1000) if a shipper imports more than $75,000 worth of goods.

General Discussion

Comments

  • whooah1979 on 22/03/2017 - 06:30
    +1

    Basically if an importer, imports more than $75,000 worth of product they will be required to pay GST on anything further imported

    how is this news? gst and duty (unless duty free) has been payable for years on imported items declared over $1000.

  • ninjutsu on 22/03/2017 - 09:20

    Thanks, I might of missed that its $75,000 a year so have updated the post.

    It means goods under the value of $1000 will be taxable after the threshold is passed. It's actually quite big news but it dosnt seem anyone is paying attention.

    Asos for instance is projecting a $4mil loss if this bill is introduced

    TLDR: Its a bill to tax low value imports if a shipper imports more than $75,000 worth of goods.

    • whooah1979 on 22/03/2017 - 16:00

      a shipper imports

      a shipper doesn't usually import items.

      it should be an importer that imports more than $75k blah blah.

      • ninjutsu on 22/03/2017 - 16:36

        Yeah you have a point, if a importer importing more than.. sounds sort of weird though
        Well it a pretty dead thread anyhow, will let it die as is.

  • motion2082 on 07/06/2017 - 22:47

    Has this Bill been passed?

    Will it definitely happen on 1st July 2017?

    I could buy a GTX1080TI + Shipping from USA for $990

    Or pay $1299 inc GST and IT Tax in Oz

    This countries Tax System is an absolute disgrace!!!

  • ninjutsu on 08/06/2017 - 12:09

    Apparently, no confirmation on the July 1st go-live date
    House of Representatives is sitting 13 - 22 June to confirm this I believe.

    I work in ecommerce so yeah been watching this one. Not a good move for the consumer or ozbargain community

  • exc3113nce on 08/06/2017 - 17:14

    There's another thread on here with plenty of replies.

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