The Future Cost of Online Shopping
Many Australian retailers have been shutting up shop in a failure to compete with the online shopping phenomenon, but they may finally have something to smile about. This week, the Australian Government announced it will consider lowering the tax-free threshold for products purchased online by March, 2014. The proposal comes after a meeting in Canberra between state and territory treasury officials on Wednesday, November 27. The officials met with Federal Treasurer Joe Hockey to discuss the nation’s options for changing the current system, which Aussie retailers say is unfair. Rather than only taxing goods purchased from online overseas retailers and worth more than $1,000, the Australian tax-free threshold could soon be reduced to items valued at $20 or more. Have a listen to Emma Watson’s report to find out more.