Date: April 10, 2015
‘Netflix’ tax a win-win for government and Aussie jobs
The National Retail Association is today thanking the Federal Government for closing the GST tax loophole that’s costing Aussie jobs and billions of dollars in lost revenue.
NRA Chief Executive Officer Trevor Evans said it’s a welcome relief for Aussie retailers.
“The NRA has been urging the government for years to close the unfair tax loophole and we’re pleased they have listened,” Mr Evans said.
“Currently, the loophole allows overseas retailers to avoid paying GST on imports valued at less than $1000.
“This Low Value Threshold (LVT) is allowing offshore online businesses to deliver to consumers in the Australian market without making any contribution to the GST take.
“Our local retailers are incredibly resilient and resourceful and many of them are already operating online or getting into the online space.
However, you can’t expect them to do as well as they possibly could if you put them at a disadvantage when it comes to taxes, customs and excise.
“These proposed changes are a win-win, not just for the government who will reap the benefits from the GST revenue but also for local retailers who will be able to keep their staff employed and their doors open.”
The NRA is Australia’s largest and most diverse retail industry organisation, and has been representing the interests of the retail, fast food and broader service sector for almost 100 years.
NRA CEO Trevor Evans is available for interviews.
Media contact: SAS Media and Communications 07 3171 2960