FTA member scenarios - GST on low value imported goods
Monday, March 6, 2017
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GST on low value imported goods: Australian Taxation Office - consultation on our proposed administration
Freight & Trade Alliance (FTA) representatives met again today with Treasury, the Australian Taxation Office (ATO) and Department of Immigration and Border Protection (DIBP) representatives.
Progress of the Bill
As previously reported to FTA members, the Australian Government introduced the
Treasury Laws Amendment (GST Low Value Goods) Bill 2017
into Parliament on 16 February 2017, which proposes to extend Goods and Services Tax (GST) to low value goods imported by consumers in Australia from 1 July 2017.
We have been advised that the Bill remains in the House of Representatives and is likely to be read when Senate / Parliament sits again in the last 2 weeks of March 2017. Additional information about low value imported goods is also available on
www.ato.gov.au/AusGST
, which will be further updated as the measure passes through Parliament.
FTA member scenarios
The ATO has agreed to review specific scenarios raised by FTA members (and their clients) and to provide advice on how to comply with the new procedures as outlined in the Bill, in particular whether a company may or may not be a "re-deliverer".
The ATO has requested that these scenarios be emailed to
AustraliaGST@ato.gov.au
with CC to
pzalai@FTAlliance.com.au
.
The ATO will use these examples to include in their next guidance product, which includes a discussion of when a redeliverer is liable for GST on a supply.
Information requirements
The ATO has also asked for particular feedback the
Summary of the information requirements document
via the feedback form on our
Let's Talk
page.
Further industry engagement
The next stage of industry engagement will focus on four aspects of ATO administration of the proposed amendments:
a draft Law Companion Guideline: GST on low value imported goods
the information requirements under the Bill
an alternative method for converting foreign currency amounts to Australian dollars in order to determine whether supplies are low value goods
an alternative method for converting foreign currency amounts to Australian dollars when calculating the GST payable on a supply under the proposed amendments.
The consultation period closes on
24 March 2017.
Comments can be submitted via the
feedback form
on our Let's Talk page or by emailing us at
AustraliaGST@ato.gov.au
.
Paul Zalai - APSA / FTA
Copyright © 2017 Freight & Trade Alliance (FTA) Pty Ltd, All rights reserved.
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