Fury at online GST loophole

An article in smh.com.au, reports that retail heavyweights have attacked a government inquiry into the industry as a further sign of inaction, saying GST and duty loopholes favouring overseas retailers are ''lunacy''.

The retail billionaires Solomon Lew and Gerry Harvey yesterday revealed they are considering mounting a campaign against the government over what they claim is an uneven playing field.

Under existing tax arrangements, overseas retailers are able to offer purchases under $1000 online without attaching GST.

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