2016 Federal Budget Update on Applying GST to Low Value Goods Imported By Consumers
Changes effective 1 July 2017 (i.e., 2017/18 income year)
1.1 Applying GST to low value goods imported by consumers
From 1 July 2017, GST will be extended to low value goods imported by consumers. The intent of this measure is to ensure that low value goods imported by consumers face the same tax regime as goods sourced domestically.
Overseas suppliers that have an Australian turnover of $75,000 or more will be required to register for, collect and remit GST for low value goods supplied to consumers in Australia, using a vendor registration model.
This change requires the unanimous agreement of the States and Territories.
| Please Note:
Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. |