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House of Representatives

Treasury Laws Amendment (GST Low Value Goods) Bill 2017

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Scott Morrison MP)


The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
ABN Australian Business Number
Commissioner Commissioner of Taxation
GST goods and services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
ITC input tax credit
ITZ indirect tax zone (broadly, Australia, excluding those geographic areas where the GST does not apply, such as the external Territories)
Intangibles things other than goods or real property
Low value goods goods with a customs value equal to or less than the prescribed amount of $1,000

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