The federal Treasury Department has called for submissions about the proposed legislation to abolish the Low Value Threshold and have overseas retailers charge Australian consumers GST at the point-of-purchase.
Executive Director of the Australian Sporting Goods Association, Shannon Walker, said “ASGA encourages our members and other companies in the sporting and active lifestyle goods industry to make a submission to this consultation. While ASGA itself will be making a submission, the more voices the government hears from our sector the better.”
The consultation ends on Friday 2 December 2016. More information about how to make a submission can be found on the Treasury website.
The legislation is planned to begin operation on 1 July 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,” Mr Walker said.
“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.”
“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,” Mr Walker said.
“I encourage sporting and active lifestyle goods companies to make a submission to this consultation or to contribute to ASGA’s submission by contacting me at email@example.com. ASGA members can also contact me directly for more information.”
The Australian Sporting Goods Association was formed in 1981 as the industry association representing a broad spectrum of sporting and active lifestyle goods industry participants, including manufacturers, importers, wholesalers and retailers.
ASGA is a leading industry voice on issues impacting the health, trade, regulation and taxation of the sporting and active lifestyle industries. ASGA aims to foster market growth, provide services and advocate for increased participation in sport and physical activity.