GST Hike Could Impact Geeks and Collectors

It is pretty much a forgone conclusion that GST will soon raise to 15%, and much has been written about possible impacts to the low-income worker, pensioners and small businesses I occurred to me yesterday that this could impact anybody like me, who imports gadgets or anything else from overseas.

Under current importing regulations GST is calculated on all imports (based on the value of the item imported and shipping), but will only be collected if the GST exceeds $50. This means that we can import items up to $400 without being taxed. If GST raises to 15% and the $50 GST limit remains the same, we will be able to import items no more than $333.33 without attracting GST.

Bother.

UPDATE 19/10/2010: The Customs Service has very sensibly raised the minimum GST amount to $60 - which means the $400 taxless import limit stays the same. Good on you, New Zealand Customs Service. :)
(Picture by Don Solo. / CC BY-NC-SA 2.0)