Kiwis to pay more for online shopping from today as overseas retailers made to collect GST in New Zealand
Offshore retailers selling products in New Zealand costing less than $1000 are now required to collect and pay GST. The rule applies to businesses selling goods online in the country worth more than $60,000 annually. The changes - announced in June by the Revenue Minister Stuart Nash - are intended to level the playing field for domestic retailers. Mr Nash said all New Zealand businesses had long been required to collect GST, and now offshore retailers would have to as well. Closing the tax loophole is expected to bring in roughly $130 million in revenue each year, by 2022. According to Consumer NZ estimates the changes would mean products under $400 will become more expensive, while those valued between $400 and $1000 would cost consumers a little less.
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Scam Alert: Bank cold calls
ASB is warning customers about reports of cold calls from scammers claiming to be from ASB. These scammers are trying to obtain personal information, including usernames, dates of birth, and verification codes sent to your mobile phone.
🛡️ The "Caller Check" Test
If you get a call from someone claiming to be from ASB and you’re unsure, just ask them for a Caller Check. You will then be able to verify the call through the app.
Remember, banks will:
❌ Never ask for your banking passwords, PINs, or verification codes
❌ Never need to know your full credit card number – especially the CVC
❌ Never ask you to download software or remotely access your device
❌ Never ask you to purchase gift cards or transfer funds.
If you have received a phone call and think your account has been compromised, call ASB on 0800 ASB FRAUD (0800 272 372), or visit your local branch.
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