ON 16 February 2017, the Government introduced law to Parliament that will amend the law to extend Goods and Services Tax (GST) to low value imports of physical goods imported by consumers from 1 July 2017.
A vendor registration model will be used and suppliers with an Australian turnover of $75,000 or more in a twelve month period will be required to register and charge GST.
THE EXISTING PROCESSES TO COLLECT GST ON IMPORTS ABOVE $1,000 AT THE BORDER ARE BROADLY UNCHANGED.
For further information on how this may affect you, please contact a Seabridge customs broker on 1800 727 195 today. Alternatively, ato.gov.au offers further information including a reform summary, legislation and supporting material.