Forum Discussion

shau's avatar
shau
Experienced Cover User
6 years ago

PayPal Fees vs Merchant Fees for the use of PayPal

So when I receive PayPal fees from PayPal, I mark them to N-T tax code, since as I understand, financial services do not fall under the purview of GST.

 

But when I charge my customers for using PayPal to cover those costs, to the tune of 3% of the value of the transaction, must this fee be subject to the GST tax code?

  • amylee91's avatar
    amylee91
    6 years ago

    Hey shau 

     

    While i am not able to advise if you need to have gst assigned, that is more something you would need to ask your financial advisor, i can give you this Link

     

    This link explains how you process these payments and how the accounts work.

     

    Regards

    Amylee

     

  • amylee91's avatar
    amylee91
    MYOB Staff
    6 years ago

    Hey shau 

     

    While i am not able to advise if you need to have gst assigned, that is more something you would need to ask your financial advisor, i can give you this Link

     

    This link explains how you process these payments and how the accounts work.

     

    Regards

    Amylee

     

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