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Changes To Gst For Overseas Purchases
On 18 October 2018 the Minister of Revenue, Stuart Nash, announced the Government will introduce a tax bill with the changes expecting to come into effect from 1 October 2019. From 1 October 2019 it is proposed:
- Offshore suppliers of goods, who sell more than $60,000 of goods in New Zealand, be required to register, collect and return GST on goods valued at or below $1,000 supplied to consumers in New Zealand, unless the purchaser is a GST registered business in New Zealand.
- Tarrifs and border cost recovery charges would be removed for imported goods valued at or below $1,000.
- The current process would continue for imported goods valued over $1,000.
The table below summarises the changes for the different parties.
Note that the table only reflects how the proposed rules would work in the majority of cases and actual results may differ in some instances.
Impact on consumers
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