Just when you thought Netflix was the cheapest fix to public access of overseas creative online content, treasurer Joe Hockey has announced a decision to put a goods and services tax on downloaded ‘intangibles’.
Under Hockey’s new so-called integrity measures, music, movies and games downloaded from overseas will include an additional GST charge.
Hockey claims the revenue raised through this tax would be worth billions. In fact, it’s surprising GST hasn’t already been attached to the services.
Confirmation of this tax is likely to be expected in this year’s budget.