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GST collection for low value imported goods is tracking at 300 per cent of forecasts, as overall GST collection continues to grow.
Since new laws kicked in on 1 July last year, GST will apply to sales of low-value, imported goods valued at $1,000 or less, to consumers in Australia, in a bid to ensure that such imported goods receive the same treatment as goods purchased domestically.
Read more at the Accountants Daily.