New GST on low-value imported goods
Overseas businesses selling goods valued at $1,000 or less online to New Zealanders are now required to register for, collect and return GST where their supplies to New Zealanders exceed (or are expected to exceed) $60,000 in a 12-month period.
This is good news for local businesses who may have been at a competitive disadvantage by having to charge GST on their sales, when their foreign competitors didn’t.
Want to know more? Read the special report here.