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Good news on GST-free threshold for imports ...?

Written on the 3 December 2012

FCA welcomes the Federal government commitment to prepare a business case for lowering the $1000 GST-free threshold for overseas goods.

FCA Executive Director Steve Wright said he was optimistic the announcement by Minister Bradbury was a positive step towards cutting this deliberate loophole, which was undermining offshore tax income and disadvantaging Australian retailers.

This gift to overseas sellers has been reported as costing Australian taxpayers hundreds of millions of dollars a year, Mr Wright said.

“It needs to be corrected, for the sake of the economy and for Australian retailers,” he said.

FCA has been working with a number of other organisations to help plot a practical course for the Government.

“It is an issue well understood by prominent retailers across the board,” he said.  “The Australian Booksellers Association, Bicycle Industries Australia, Photo Marketing Association, Australian Music Association, Photo Imaging Council of Australia, Retail Cycle Traders Australia (Inc), Australian Toy Association, Australian Sporting Goods Association, and Australian Retailers Association have all recognised the need for change.”

ENDS

For more information contact Stephanie Wells, Marketing Communications Manager, 1300 669 030, or stephanie.wells@franchise.org.au


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