Source: Aimee Shaw, New Zealand Herald
New Zealand businesses are being warned to get ready to charge GST on all exports as Australia gears up to change its goods and services legislation.
Australia has updated its GST legislation on low-value goods, meaning Kiwi businesses will be required to charge 10 per cent GST, effective from July next year, if they have sales of more than A$75,000 ($83,000) a year to consumers.
Currently, imported physical goods under A$1000 are not subject to GST.
Deloitte tax partner Allan Bullot said Australia's new legislation could be challenging for small retail businesses, who will need to advertise payable GST.
If you have any questions about how this change will affect your business, please speak with your Enprise Account Manager directly, or contact us.
You can also read more about the new Australian GST legislation and what it means for New Zealand businesses on the NZTE website
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