ASGA’s submission on Low Value ThresholdASGA recently made a submission to the federal Treasury Department’s consultation about the proposed legislation to abolish the Low Value Threshold and have overseas retailers charge Australian consumers GST at the point-of-purchase.
Says executive director of The Australian Sporting Goods Association, Shannon Walker (pictured), The legislation is planned to begin operation on July 1, 2017.
“ASGA strongly supports this legislation to abolish the low value threshold. It will ensure overseas retailers charge Australian consumers GST at point-of-purchase and remit that GST back to the Australian Tax Office, in the same way every Australian retailer does.
“However, we do have some concerns, the main one being how the Government will enforce the legislation on overseas retailers, including potential penalties for non-compliance.
“We’d also like to know the process by which the ATO will target specific overseas retailers and what opportunity the sporting goods sector will have to identify overseas competitors to be targeted.,” says Walker.
ASGA has been at the forefront of working with the Federal and state governments to reduce the low value threshold and provide a level playing field for Australian retailers.
“We will continue to do so in the lead-up to July 1 2017 to ensure these changes are implemented properly.”
See the submission on the Industry Advocacy and Government Relations page on the ASGA website.