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 Great: OZschwitz retailers vow to use legal loopholes to stay in GST play

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Great: OZschwitz retailers vow to use legal loopholes to stay in GST play Vide
PostSubject: Great: OZschwitz retailers vow to use legal loopholes to stay in GST play   Great: OZschwitz retailers vow to use legal loopholes to stay in GST play Icon_minitimeTue Nov 26, 2013 11:20 pm
Australia's biggest retailers might be forced to ship in products through the back door via New Zealand to match the GST-free advantage enjoyed by overseas websites unless Canberra acts immediately to scrap the popular import loophole.

Great: OZschwitz retailers vow to use legal loopholes to stay in GST play Art-myer-620x349

Bernie Brookes, the boss of the nation's biggest department store, Myer, on Tuesday joined with Harvey Norman co-founder and CEO Gerry Harvey to up the political pressure on federal and state treasurers to finally address the ability for shoppers to bring in goods from overseas, mostly sourced from online shopping sites, without paying GST and duty if the product is valued at less than $1000.

The $1000 threshold has been a detested loophole by the domestic retail community for years, with retailers angry at the unfair price advantage handed to foreign websites.

Federal Treasurer Joe Hockey will meet state treasurers on Wednesday and the loophole is expected to be discussed at length, with many retailers hoping Canberra will finally act on lowering the threshold to as low as $25 or scrap it completely.

Read more: http://www.smh.com.au/business/retail/retailers-vow-to-use-legal-loopholes-to-stay-in-gst-play-20131126-2y884.html#ixzz2logHE4HL
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