New TRS rules? Goods no longer included in cap?

[SYD]

Ok, so alcohol and goods are on different allowance tiers, but the OP has a point.
The goods allowance should go up with inflation or CPI or whatever

Yes, I meant to say that as well!

While we're at it, so should the $300 ATO limit of instant write-off. It's been at $300 for as long as I can remember!

Fortunately, I can push some write offable stuff through my company (phone, laptop, tablet). GST rebate quarterly (don’t have to jump on a plane) and 100% depreciation at tax time. The Covid times where quite generous for that! Must check current FY, but I think that party is over but I do need a new computer and only a month and a bit to go!

 

[Le Clair]

My understanding is the dollar value of booze allowance (2.25L) is in addition to the $900 for other “general goods”. So you can bring in a $900 watch and a $1000+ bottle of cognac (or two)?

I wasn't suggesting that the alcohol allowance was included in the general allowance. The point I was making was that the general allowance hasn't increased since 1 Feb 2005 despite inflation reducing the value of that 2005 $900 to $542.
$900 in 2005 is $1,500 in 2024.

 

[Warragul]

The point I was making was that the general allowance hasn't increased since 1 Feb 2005 despite inflation reducing the value of that 2005 $900 to $542.
$900 in 2005 is $1,500 in 2024.

The dollar value of the passenger concession has never been adjusted with inflation, only when the government, both political and administrative wings, think it needs to be done. Not saying it shouldn't be adjusted in that fashion just that there is no precedent.

It is probably a tad harder to do now (post 2005) as the states and territories have to agree as there is lost GST revenue - although not that much in the big scheme of things but its the rules.

 

[stm1sydney]

Texas levies AU$2.44 and 15 US States have no tax on spirits at all.

And despite this the LOTFAP have the highest GDP per capita in the world.

High GDP per capita correlates with low taxes, small government, and high economic freedom.

 

[justin23]

t is probably a tad harder to do now (post 2005) as the states and territories have to agree as there is lost GST revenue - although not that much in the big scheme of things but its the rules.

Yeah the stupidity of the system is people will rort it. So they won’t buy from a local store to claim the GST back on TRS. They’ll buy OS and if someone returns with a new mobile phone or laptop with no packaging etc, how would they know?

It’s easy to say people are breaking the law, but it would cost taxpayers so much money to enforce the laws because they were designed so poorly. So you’d think a decent argument can be made to increase the TRS allowance and not include it for Australians returning. It helps local businesses and I’d argue we aren’t losing that much GST revenue by doing it.

 

[Kyriacos13]

Hello Everyone,
Im new to this forum, but ive had this question for a while. Im in SA currently for studies and I will be heading back home in Europe in September. I wanted to buy a watch from here and got told about TRS where you can claim 10% of the value of am item if it is over 300 dollars. I obviously want to claim that but I am wondering if I buy a second hand watch from a jeweller would I still be able to claim TRS? Meaning the watch is not brand new is it still eligible for TRS even if i have a receipt of purchase for the used watch?
Thank you

 

[Bundy Bear]

Hello Everyone,
Im new to this forum, but ive had this question for a while. Im in SA currently for studies and I will be heading back home in Europe in September. I wanted to buy a watch from here and got told about TRS where you can claim 10% of the value of am item if it is over 300 dollars. I obviously want to claim that but I am wondering if I buy a second hand watch from a jeweller would I still be able to claim TRS? Meaning the watch is not brand new is it still eligible for TRS even if i have a receipt of purchase for the used watch?
Thank you

The important part is getting a tax invoice which shows GST.

Taxable supplies are supplies that have been made to your business via an entity that is registered for GST. When you purchased these items regardless of whether they are second hand or brand new they will have GST included in there price.

TRS will want to see the parts and the invoice.

 

[SYD]

The important part is getting a tax invoice which shows GST.

Taxable supplies are supplies that have been made to your business via an entity that is registered for GST. When you purchased these items regardless of whether they are second hand or brand new they will have GST included in there price.

TRS will want to see the parts and the invoice.

Just to emphasis this. It’s the 10% GST that you’re getting back. So you must get a Tax invoice (receipt) showing the GST amount.

Also, since you’re exporting permanently, there’s no limit as far as TRS is concerned - except over $1000(?) your name must be on the receipt - I believe.