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Category Archives: shopping
Online tax collection- Amazon & Visa
With online retail surging ahead and leaving behind our credit card limits it is no wonder the tax authorities are looking far and wide for tax collectors. According to a report the internet economy in Australia was worth about $50 billion in 2010, 3.6 per cent of gross domestic product, and was forecast to rise to $70 billion over the next five years. Significant amounts of GST will go uncollected. In the U.S, it is estimated that the annual state and local sales … Continue reading
Tax & Shopping – How to get the most out of your penny!
Shopping can be a bad habit if it is excessive, all consuming, and unplanned. However, well thought out shopping can result in “smart shopping”, making shopping some what less criminal.This is where tax comes in – knowing the consumption tax rates in different jurisdictions and taking advantage of opportunities to claim back the tax that you pay on purchases can save you money! The Australians call it goods & services tax (GST), the Europeans call it value added tax (VAT), … Continue reading
