The measure, introduced on 1 July 2018, requires suppliers, online platforms and re-deliverers with an Australian GST turnover of $75,000 or more to register, collect and remit GST to the ATO.
The Board of Taxation will now assess the effectiveness of the LVIG regime and ensure that it satisfies the policy intent of ensuring low-value goods imported by consumers face the same tax regime as goods that are sourced domestically.
Source: accountantsdaily.com.au
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