Melbourne, Australia, 2017-Jun-21 — /EPR Retail News/ — The Australian Retailers Association (ARA) congratulate the Parliament for passing the low-value GST for offshore tangible goods under $1000 as this legislation will improve tax fairness for Australian retailers.
Russell Zimmerman, Executive Director of the ARA said they have been working with the Federal and State Governments since 2008 to reduce the Low Value Threshold (LVT) and provide a level playing field for Australian retailers.
“Today the Australian retail industry received a big win, as this much-needed GST will significantly assist our local retailers when trading against our international counterparts,” Mr Zimmerman said.
“This new legislation will create a fairer tax system for Australian retailers who are currently operating in a tough trading environment.”
The ARA congratulate the Parliament for passing this Bill but are extremely disappointed that the legislation won’t be implemented until 1 July 2018.
“We are disappointed there will be a 12 month delay before overseas retailers start collecting this tax, but we look forward to Australian retailers finally being given a fair chance,” Mr Zimmerman said.
“This legislation will mean our local retailers will be able to trade on the same level playing field as our international competitors.”
The ARA will continue to work with the Government and Productivity Commission to seek the most efficient system in collecting this GST.
“We will be talking to our members to ensure this legislation is implemented correctly,” Mr Zimmerman said.
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For interview opportunities with ARA Executive Director Russell Zimmermancall the ARA Media Line on 0439 612 556, or emailmedia@retail.org.au
About the Australian Retailers Association:
Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.
SOURCE: Australian Retailers Association