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Businessman Solomon Lew hits out at online GST rates

Posted by: 3AW NEWS | 4 December, 2012 - 5:48 PM
Solomon Lew

Businessman Solomon Lew says reducing the GST threshold for online purchases is in the national interest.

Currently online purchases under $1000 are exempt from the GST.

Mr Lew, who's company own businesses including Just Jeans, Smiggle and Peter Alexander, says the current system is disadvantaging both Australian retailers and shoppers.

"Why don't they allow the Australian shoppers, the public, to buy those products in Australia GST free and customs duty free?,”

“Why are the Australian public, who buy at retail stores, being penalised?" he questioned.

"As soon as you purchase something overseas, it goes on your credit card, that dollar goes overseas, not 1-cent stays in Australia,"

"Therefore Australian's will lose and are losing their jobs daily" he told Nick McCallum.

LISTEN: Soloman Lew speaks with Nick McCallum

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Interest rates cut by .25 percent

Reserve bank INTEREST RATES: The Reserve Bank of Australia has delived a pre-Christmas interest rate cut reducing the official cash rate by a .25 percent to 3 percent.


Blog comments Your Say

  • I have one thing to say.....
    I bet Solomon Lew pays less tax than me.
    ......I'll get back to eating my cake now.

    Eddy Wednesday 5 December, 2012 - 9:10 AM
  • It's not really the overseas sellers that are putting the locals out of business. It's the guys in Coburg and Brunswick with shipping containers in their backyards. The only way to compete is to drop prices and overheads.

    mylene Wednesday 5 December, 2012 - 9:00 AM
  • If any of the items I buy overseas were GST free here I still wouldn't buy them. You whinging retailers don't get it...we shop overseas because we can save up to 50% on your insane prices. You can blame all you like about our higher wages, rent, utilities etc but it doesn't justify that much of a mark up. Stop crying poor & fix the real problem of poor customer service & overcharging.

    SM Tuesday 4 December, 2012 - 10:47 PM
  • I think that this would stimulate the economy, so it would be a good thing for shoppers who would like to go to the stores. I like to buy things locally if I can. I want to support Australian jobs and would like to think the Standards are being met online as well as it has to be offline in the shops. I agree that there needs to be a level playing field. What do people think ?

    Wondering Tuesday 4 December, 2012 - 6:12 PM

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