Paying GST on Imported Goods

Paying GST on Imported Goods

Paying Goods and Services Tax on Any Imported Goods

The Australian Customs and Border Protection Service (ACBPS) is the entity that collects GST on any taxable imported goods you may have each year. The total payable GST is equal to 10 percent of the value of the taxable imported goods. This breaks down to the sum of:

  • The customs value of the taxable imported goods
  • Any payable customs duty
  • The amount you paid or the amount that is payable to transport the taxable imported goods into Australia
  • The transport's insurance cost
  • Any payable wine tax, if applicableĀ 

Usually, you'll pay GST on your taxable imported goods before the ACBPS releases them. If you haven't registered to be part of a deferred GST scheme, then you'll have to pay the GST as you would normally pay customs duty.

Paying Gst On IMported Goods

Deferring Goods and Services Tax on Any Imported Goods

If you have registered yourself, your business or organisation for GST and you regularly import goods, there is a way you might be able to defer paying your GST. This is called the Deferred GST Scheme, and it does have eligibility requirements. If you meet these eligibility requirements, you may be able to defer your GST payment until you lodge your first activity statement after you've completed importing your various goods. For your business or organisation to be eligible for the Deferred GST Scheme, you'll have to meet these requirements:

  • Have a registered ABN

  • Register for GST

  • Lodge your activity statements in an online format

  • Lodge your activity statements each month

  • Pay your activity statement payments online

Additionally, you may not qualify if you're not up to date on your taxes or payments, or if anyone in your business has convictions or penalties for fair trading, fraud, taxation or customs requirements, trade practices, or good misdescriptions. This can all be very confusing, and this is why you want one of the professional and knowledgeable staff at EtaxPlus to help guide you through this process. We'll help you lodge your taxes correctly and make sure that your imported goods GST is correct. Contact us today for an appointment!