Parliament has passed the low-value GST for offshore tangible goods under $1000

The Australian government has passed a new law that charges a low value GST for all offshore products under one thousand dollars. This means that companies have to charge a GST fee for small goods, which works good for the government being able to earn more money in tax revenue. The writer of this article states that he has mixed feelings on the issue, due to the new fees that may be charged. Although the government is collecting more in taxes, that means the consumer is paying for it.

Key Takeaways:

• Australia’s Parliament has passed a Goods and Services Tax for offshore goods.
• The tax is for tangible goods with a value under $1000.
• This is a good thing as it will raise tax revenue. Conversely it is a bad thing in that offshore goods will cost more.

“The Australian Parliament has passed the low-value GST for offshore tangible goods under $1000. Like many I have mixed feeling about this.”

Read more: https://www.possolutions.com.au/blog/parliament-has-passed-the-low-value-gst-for-offshore-tangible-goods-under-1000