How is GST charged for Online Payments transactions?

What is GST?

Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.

See here for further information about how GST works in Australia.

Why am I being charged GST?

All of our Online Payment fees are quoted to be GST-inclusive. 

GST-inclusive means that on our 1.65% + AUD0.30 rates mentioned, 10% of that covers the GST requirement.

GST and non-GST transaction fees are charged on each transaction in real-time, providing you and your business with better cash flow.

How much, and how, am I being charged?

GST is calculated as 10% of each customer transaction, and will be deducted at the settlement of the transaction.

To find out your total Airwallex Online Payment fees and GST:

  1. Navigate to ‘Reports’ on the sidebar

  2. Generate a Settlement Report for all currencies for the specified period

  3. For your payment method fees, you will receive a Settlement Report where you can find the fee and tax breakdown within each line of “Payments”
  4. For your fixed fees, you will receive a Fee Report in each settlement currency that summarises your total fees and GST (in that settlement currency)

The GST amount is calculated in the settlement currency.

You will see this GST amount represented in your nominated local currency (e.g. AUD for Australian customers) on your statement.

Will I still be charged GST at the end of each month?

No, you will no longer be charged GST in your end-of-month invoice.

Instead, GST is charged when a customer transaction is settled in your Wallet.

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