Harvey Norman Holdings Limited (ASX:HVN) is selling computer games on an overseas website in Ireland in a bid to let Australians bypass GST.
Last night the retailer reluctantly launched the website. Chairman Gerry Harvey says he expects the site to cannibalise in-store sales, as the products are listed at much cheaper prices online.
Purchases under $1,000 from the site, www.harveynormandirectimport.com, will be GST-free.
Harvey Norman Holdings lifted its net profit to $259.6 million in fiscal 2011.
