link1896
Mr Greenfield
If all state and territory premiers agree, it's looking likely that online purchases from overseas will pay GST on almost everything, with a $20 threshold instead of the current $1000 threshold. No doubt the 5% duty will be slugged too.
So buying a $500 AUD set of cranks:
purchase price $500
freight $25
duty on $500 at 5%= $25
gst at 10% on purchase + freight + duty= $55 ( yes, a tax on a tax!!!!!)
Total price is now $605. There will probably be a processing fee too.
This will help Australian retailers no doubt, probably still puts CRC cheaper then Australian wholesale on Shimano and SRAM?
So freight forwarding companies in the USA who rebox your goods and let you complete the price declaration yourself will boom.
So buying a $500 AUD set of cranks:
purchase price $500
freight $25
duty on $500 at 5%= $25
gst at 10% on purchase + freight + duty= $55 ( yes, a tax on a tax!!!!!)
Total price is now $605. There will probably be a processing fee too.
This will help Australian retailers no doubt, probably still puts CRC cheaper then Australian wholesale on Shimano and SRAM?
So freight forwarding companies in the USA who rebox your goods and let you complete the price declaration yourself will boom.