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 is charged separately at the end of the month. Non-GST transaction fees are charged on each transaction in real-time, providing you and your business with better cash flow.
How much am I being charged, and how do I work this out?
GST is calculated as 10% of your total Airwallex Online Payment fees for that given period.
To find out your total Airwallex Online Payment fees:
- Navigate to ‘Reports’ on the sidebar
- Generate a Settlement Report for all currencies for the specified period
- You will receive a Fee Report in each settlement currency that summarises your total fees (in that settlement currency)
The GST amount is calculated on these fees in the settlement currency, collected from your wallet balance at the end of the month.
You will see this GST amount represented in your nominated local currency (e.g. AUD for Australian customers) on your statement.