GST on low value imports—2017 Inquiry

The ECA expresses its concern over the impact of the GST Low Value Goods Bill on Australian importers, particularly small and medium-sized enterprises (SMEs) and importers of lower-value goods.

According to DFAT, Australia imported $271.4 billion worth of goods and $77.7 billion worth of services in 2015-16. Imports are an important component of Australia’s economic prosperity. They promote competition and expand the range of goods available to Australian consumers, as well as help Australian businesses meet their strategic goals and provide goods to customers that may not be available locally.

Importing goods into Australia is not necessarily straight forward, especially for SMEs with limited resources. There are many things an importer needs to consider, such as rules and regulations, whether any licenses or permits are required, what the customs clearance requirements are, payment terms, logistics considerations, and more. There are also the initial challenges of understanding how to purchase your goods and set up contracts, as well as how free trade agreements and tariff barriers apply, that importers need to be aware of before a deal is even negotiated.

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Ed Serrano
Managing Director,
VEKTA Advanced Automation
Member of the ECA

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Export Finance Australia Oct 2020