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Government considering zero GST threshold for overseas purchases

Federal treasurer Joe Hockey says the government is considering removing the GST threshold entirely on overseas purchases.

After previously signalling his intention to lower the GST threshold, Hockey told the ABC the threshold ‘may well go to zero as well’.

Hockey said that international agreements made at the G20 forum last year would reduce the cost of imposing the GST on overseas goods, overriding the 2011 Productivity Commission report’s findings that lowering the threshold to $20 would not be cost-effective.

A group of book industry have called on the government to remove the GST threshold entirely on overseas purchases. The Australian Society of Authors, the Australian Publishers Association, the Australian Booksellers Association, the Copyright Agency and the Australian Council of Small Business have released a statement arguing that the removal of the threshold would ‘level the playing field’ for local booksellers.

 

Category: Local news