ARA welcomes abolition of overseas GST threshold

BY Australian Retailers Association
21 August 2015

21 AUGUST, 2015: The Australian Retailers Association (ARA) has welcomed the decision of State Premiers and Treasurers to remove the Low Value Import Threshold (LVIT) for goods purchased from overseas, calling it “necessary and overdue”.

The ARA was the first to raise the issue of the LVIT and its $1000 limit and advocate for its removal in 2010.

“The ARA is incredibly pleased to see that the loophole allowing international businesses an advantage over Australian retailers will be closed,” said Russell Zimmerman, Executive Director of the ARA.

“The LVIT has caused Australian retailers huge concern, and its abolition is long overdue. The removal of this archaic law is necessary for the growth and sustainability of all Australian retailers.

“While the ARA would prefer to see an earlier introduction date than July 1, 2017, we’re pleased that the threshold has been entirely scrapped, rather than merely reduced,” Mr Zimmerman said.

“Australian retailers will now be able to play in the global economy on a level field.

“We look forward to working with the Government on its implementation over the coming years,” he said.

-Ends-

About the Australian Retailers Association:
Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $284 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

For interview opportunities with ARA Executive Director, Russell Zimmerman, call the ARA Media team on 0439 612 556 or email media@retail.org.au.

 

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ABOUT THE AUTHOR

Australian Retailers Association

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association representing Australia’s $310 billion sector, which employs more than 1.2 million people. As the retail industry’s peak representative body, the ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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