Netflix prices could go up. Picture: AP/Elise Amendola
THE cost of Netflix, music downloads, and e-books is set to increase by 10 per cent — with the Federal Government introducing draft laws imposing the Goods and Services Tax on digital products bought overseas.
Federal Treasurer Scott Morrison introduced the bill, which - if passed - will see the GST added to movie, music and e-book downloads.
He said the bill was an important part of the government’s attempt to “level the playing field” for Australian businesses.
Federal Treasurer Scott Morrison wants to tax digital products bough overseas to make it fairer for Aussie businesses. Picture: AAP/Joel CarrettSource:AAP
“(This bill) ensures Australian businesses selling digital products and services are not disadvantaged relative to overseas businesses that sell equivalent products in Australia,” Mr Morrison said.
“For example, current laws discriminate between a software subscription service provided by a local supplier which attracts a GST but a similar software subscription service provided by an offshore supplier may not, creating a competitive advantage for overseas companies.
“The legislation will apply the GST to all digital supply provided from offshore, and thus, level the playing field for Australian businesses.
“Overseas vendors … often multinationals selling digital products or other services such as apps, downloads of digital content, movies, these sorts of things Mr Speaker, will be required to register, elect and remit GST on their sales to Australian consumers.”
The laws, widely dubbed the “Netflix tax”, are expected to raise $350 million for the Government over the next four years.
The scheme would not begin until July 2017, however, and would not affect international companies already collecting the GST from Australian consumers, including Apple and Spotify.
10 digital services that could cost more:
— Netflix (streaming TV and movies)
— Amazon (US e-books)
— Kobo (e-books)
— Tidal (streaming music)
— Adobe (subscription software)
— Microsoft (Windows apps)
— BlackBerry (apps)
— Steam (online games)
— UberX (budget car service)
— Google (advertising)
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