Collection Models for GST (NNF 2017/148)

The following information has been provided by the Australian Government Productivity Commission and is forwarded for your attention.

“The Australian Government has asked the Productivity Commission to undertake a four-month inquiry into models for collecting GST on low value imported goods.

The Commission will hold hearings for the purposes of the inquiry and produce a final report by 31 October 2017.

A discussion paper will be released by the end of July to inform the basis of the hearings.

Interested parties are also invited to provide written submissions on matters relevant to the inquiry.”

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As members will be aware, the CBFCA has, over the period of review of this issue, participated in and made various submissions to, Committees etc on the low value threshold. With 1 July 2018 now slated as the date for commencement of collection of GST on goods that fall below the customs value threshold, the decision taken in 2005 as to raising the threshold to that customs value level without any adequate industry consultation is finally subject to the light of day.