Latest News

Back to Latest News back

 

Australian Sporting Goods Association welcomes impending scrapping of Low Value Tax Threshold

Australian Sporting Goods Association welcomes impending scrapping of Low Value Tax Threshold
February 16, 2017

The Australian Sporting Goods Association (ASGA) has welcomed Australian Treasurer Scott Morrison’s introduction of a Parliamentary bill to scrap the Low Value Tax Threshold.

The Treasury Laws Amendment (GST Low Value Goods) Bill 2017 will scrap the Low Value Threshold and require overseas online retailers to register for GST with the Australian Tax Office (ATO).

These retailers will then have to charge Australian consumers GST at the point-of-purchase, and remit the GST back to the ATO – the same way Australian retailers have to.

From 1st July 2017, when the new laws will come into effect, overseas competitors, according to ASGA Executive Director Shannon Walker, will no longer have an unfair competitive advantage over Australian retailers.

Walker explains “ASGA has been at the forefront of working with the Federal and state governments to reduce the low value threshold and provide a level playing field for Australian retailers.”

As noted by Treasurer Morrision in his speech in Parliament today, “importantly, this Bill also tackles the growing risk that the current arrangements pose to the integrity of the GST base. With the continued growth and normalisation of cross border shopping, we cannot afford to simply ignore the impact of these outdated arrangements on the tax system.

“As a result of the reforms being introduced today, low value goods imported by consumers will face the same tax regime as goods that are sourced domestically.

“This is how a fair and modern tax system should work and I am proud that Australia is taking the lead in this respect.

“We now live in a world where online cross-border shopping is a normal and often daily activity for many Australians.

“This reform to Australia’s GST is a significant world first but it is consistent with the direction of international tax policy in this area.”

However, ASGA is concerned as to how Australian Government will enforce the legislation on overseas retailers, including potential penalties for non-compliance.

As Walker explains “we’d also like to know the process by which the ATO will target specific overseas retailers and what opportunity the sporting goods sector will have to identify overseas competitors to be targeted.

“ASGA will continue to work with all sides of politics to ensure this important legislation is passed in a timely manner. We will also consult with Treasury about how the legislation will be implemented and enforced.”

Lower image: Shannon Walker

23rd November 2016 - NEW FOOTBALL STORE TO COMPETE WITH OVERSEAS ONLINE RETAILERS

24th October 2016 - ASGA JOINS ANTI-COUNTERFEIT BUSINESS LOBBY GROUP 

27th September 2016 - FEDERAL GOVERNMENT ANNOUNCES PARTIAL BACKPACKER TAX REVERSAL

31st August 2016 - TOURISM KICKS GOALS FOR AUSTRALIAN ECONOMY, BUT BACKPACKERS DRY UP DUE TO PROPOSED TAX

23rd July 2015 - SPORTING GOODS SECTOR WELCOMES POTENTIAL FALL IN GST THRESHOLD FOR OVERSEAS ONLINE SHOPPING

29th April 2013 - ASGA BACKS CALLS FOR POLITICAL SUPPORT FOR AUSTRALIAN RETAILERS

22nd April 2013 - ASGA HIGHLIGHTS DANGERS OF PARALLEL IMPORTING


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Intelligenz

Intelligenz provides Leisure Management Software for managing all your Program Registrations, Facility Bookings, Membership Sales and POS Transactions; including detailed Reporting, automated…

read more

Access / Billing / Finance / Marketing / Technology

 
 

Hydrocare Pool Services

Hydrocare Pool Services Pty Ltd offer 30 years of experience in aquatic industry features, products and water treatment. Hydrocare Pools has undertaken water treatment for aquatic centres and…

read more

Aquatics / Attractions / Play / Recreation / Technology

 
 

AUSFIT

Ausfit began in 1992, providing software services to the health and fitness sector including ClubWise, a fully hosted web-based product which combines state of the art club management software,…

read more

Billing / Finance / Fitness / Technology

 
 

Enta Australasia

As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd.  Click here to view the VIVATICKET Pty Ltd listing.  19th July 2018 - ENTA…

read more

Technology / Ticketing / Venues

 
 

TPEC Pool Enclosures

TPEC Pool Enclosures provide a large range of premium commercial and residential retractable swimming pool, spa and terrace enclosures throughout Australia, servicing residential, local government…

read more

Aquatics / Design / Recreation / Venues

 
 

BH Fitness

BH Fitness, part of the long-standing and iconic bike manufacturer BH Group, is a global leader in fitness equipment for both Commercial and Home markets. The company, with the headquarters based in…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 

@leisure Planners

@leisure is a team of experienced leisure, aquatic and sports facility managers and planners, with market modelling, sports management, recreation planning, business and GIS qualifications. We have…

read more

Consultants

 
 

XBODY Australia Pty Ltd

PROVEN BUSINESS CONCEPTS WITH XBODY XBody’s goal is to see you and your EMS business succeed. That is why we don’t just sell equipment, we provide know-how, expert knowledge,…

read more

Fitness / Technology / Wellness

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business