It’s a topic which divides many. Last month, Treasurer Scott Morrison introduced a new draft of the Goods and Services Tax Act 1999, which if passed, would require offshore producers of digital products to collect GST when their products are purchased by an Australian consumer.
This is good and bad news. The good news is for existing Australian competitors who already include GST into their products and are no longer at a financial disadvantage. The bad news is for avid Australian consumers who will now have to pay more for their desired service. However, it can also be argued that this will create a fairer market and will encourage Australian companies to create services which rival those from the US or UK.
Read the below slide show to know more on this topic and how it could affect you.
If you have any dealings regarding GST, media law or consumer law that require legal attention, please do not hesitate to contact Owen Hodge Lawyers on 1800 770 780.