Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Booksellers await paper on tax-free offshore purchases

Booksellers await 'overdue' paper on tax-free offshore purchases

By Suze Metherell

June 13 (BusinessDesk) - The national lobby for booksellers say minister of revenue Todd McClay is late in delivering a discussion paper on extending the tax on overseas purchases that undercut local retailers meeting their obligations to the Inland Revenue Department.

McClay said last November that he'd release a discussion paper on treatment of overseas online retailers for goods and services tax, but the work was merged into a wider review of the tax system. Currently goods bought overseas attract GST, depending on the product, at above $240 or $400. Last year the Retailers Association called on the government to waive a minimum threshold for the value of goods that can be bought overseas without incurring GST.

"The Minister had every opportunity to announce a plan to put right this anomaly in the current application of GST - the so called universal tax," said Lincoln Gould, chief executive of Booksellers New Zealand. "Not only is it estimated that this is costing the government upwards of $300 million per annum, but it is hurting the economies of small business and thus small communities."

"The minister promised a discussion paper on the issue prior to Christmas last year following the establishment of across ministry working group," Booksellers' Gould said. "He failed to deliver then and now he has missed another opportunity."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news