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
Latest Posts in "Australia"
- Understanding GST Exemptions, GST-Free, and Input Taxed Status for Australian Businesses
- GST Pricing Rules in Australia: When, Where, and How to Display GST-Inclusive Prices
- ATO Clarifies GST Rules for Power Industry: BPPAs, Gifted Assets, and Agency Arrangements
- Final GST Rules Clarified for Sunscreen Products: Ensure Correct GST Application When Selling
- Australia Enacts Treasury Laws Amendment 2025: New GST Reverse Charge Deduction Rules Effective July 2024
