Retailers have welcomed the Gillard Government's decision to implement recommendations made by the LVT Processing Taskforce to reduce the $1000 GST threshold.
The Federal Government has publicly released the final report of the Low Value Parcel Processing Taskforce, which suggested any streamlining of the processes involved in the handling of low value imported parcels would require significant change.
The inaugural meeting of the Retail Council of Australia, which was held in Sydney on Wednesday, saw the gathering of a number of retail associations discussing, exchanging and raising ideas to benefit the future of the retail industry.
To advise the government on the future of the sector, the council will work closely with the Council Australian Governments where it will be able to raise collective concerns on behalf of the retail industry.
The Productivity Commission has made it clear that the current level of the LVT only plays a minor in how retailers are competitively disadvantaged.
The FIA highlights that the government needs to establish a minister to be responsible for the retail sector, particularly given the key role it plays in the Australian economy.
Defying the gloom and doom, online retailing surges ahead undaunted by the economic conditions bringing down traditional retail businesses.
The draft report - Economic Structure and Performance of the Australian Retail Industry - examines the implications of globalisation for the retail industry and the appropriateness of current policy settings.
ASGA said there is a need for a formal retail advisory structure to ensure the industry owns responsibility for the outcomes and recommendations of the Productivity Commission's report.
Documents released under FOI revealed that the government was planning to lower the GST importation threshold for overseas purchases from $1000 to $500 in October 2010.
The Fair Imports Alliance has called for the removal of the $1000 GST threshold as part of its submission to the Productivity Commission's inquiry into the retail sector
he Fair Imports Alliance is outraged that Customs is withholding a reporting containing the results of a three month crackdown in import rorts.
Opinions were shared and questions were raised during a discussion that was held by the NRA to address the need to close the GST loophole.
Retail trade union SDA has backed up retailers in their call for reducing the $1000 GST import threshold in its submission to the Productivity Commission’s inquiry into the retail sector.
The Fair Imports Alliance has received written admission from the Customs and Border Protection Service that there is no proof to back-up that if the GST threshold was lowered, it would be economically and administratively unfeasible for the government.
The Productivity Commission, has released an issues paper to assist those preparing submissions into the public inquiry of the Australian retail industry's economic structure and performance.
Following the Productivity Commissions’ call for submissions from retailers for its inquiry into the Australian retail industry, the ANRA said 2011 will be a critical year for retailers.
The first rounds of submissions are being called for by the Productivity Commission as it prepares to undertake a public inquiry into the economic structure and performance of the retail.