Sydney : The tax, applicable to international retailers if they have a GST turnover of 75,000 Australian Dollars or more in a 12-month period, has come into force after the Australian Government decided to offer what it is calling “fairer trading for all retailers” to ensure that low value goods purchased by consumers in Australia will have the same tax treatment, no matter where they are purchased from.
According to the Australian Taxation Office, it will provide a simplified system for retailers to register, lodge and pay Australian GST. Retailers using this system will only need to report total taxable sales and GST, and pay once each quarter.
Australian Taxation Office assistant commissioner Kate Roff said in a press release: “Any businesses that are having difficulty meeting their obligations should contact the ATO as soon as possible.
“Businesses that do the right thing and register for GST can be assured that we will, where appropriate, pursue businesses that do not.”
Roff added: “The ATO has the ability to use financial data tracking, customs data and online investigations to identify those that are not meeting their taxation obligations. Businesses that decide not to comply will face penalties.”