Selling low value goods to consumers in Australia – will you be GST ready? - 23 March 2017
The Treasury Laws Amendment (GST Low Value Goods) Bill 2017 was introduced into Parliament in February 2017. From 1 July 2017, foreign retailers could be liable to collect and remit GST on low value goods they sell to consumers in Australia. In some cases, the GST obligations could instead fall on foreign online marketplace operators or redelivery service providers.
The new rules in the Bill are complex. Tax Insights outlines some of the key operational and compliance considerations facing foreign businesses transacting with Australian customers. Urgent action is needed.