Hockey finds way to collect GST on imports

Treasurer Joe Hockey says as a result of talks with the UK he may have found a way to collect GST on imported goods.

Treasurer Joe Hockey believes he has found a way to collect GST on parcels imported into Australia. (AAP)

Treasurer Joe Hockey believes he has found a way to collect GST on parcels imported into Australia.

Collecting GST on imported goods has been long debated, since internet shopping grew in prominence, but has repeatedly been seen as not cost effective.

But Mr Hockey has told a Melbourne conference that as a result of consultations with the United Kingdom and a number of other jurisdictions he believes there is a new way of collecting the GST on imported parcels and goods, which he will share with state premiers when they meet in August.