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 New OZschwitz rip-off: Online shopping targeted in proposed GST changes

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RR Phantom

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New OZschwitz rip-off: Online shopping targeted in proposed GST changes Vide
PostSubject: New OZschwitz rip-off: Online shopping targeted in proposed GST changes   New OZschwitz rip-off: Online shopping targeted in proposed GST changes Icon_minitimeThu Sep 06, 2012 10:04 pm
THE NSW Treasurer, Mike Baird, is proposing a dramatic lowering of the GST-free threshold for goods bought online from overseas retailers in a move that would raise hundreds of millions of dollars in extra tax.

New OZschwitz rip-off: Online shopping targeted in proposed GST changes Art353baird300x0



Mr Baird wants the Commonwealth to look at cutting the threshold from $1000 to about $30 to capture millions more transactions in the GST net and bring Australia into line with countries such as Britain.

The move, which was a recommendation of the Productivity Commission report into retailing last year, would add 10 per cent to most international online purchases.

But the trade-off is that it could help pave the way for the abolition of stamp duty on housing and other taxes by replacing the revenue that would otherwise be lost by the states.

Read more: http://www.smh.com.au/technology/technology-news/online-shopping-targeted-in-proposed-gst-changes-20120906-25hff.html#ixzz25kHZb2D8
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