GST charged on Square fees is more than 10% ?

[emartinson]

Hi everyone.

I was just looking at a monthly statement and the numbers are a bit confusing.

Total card payments processed: $2.571.78
Card Processing Fees (ex GST): $44.88

GST: $4.56
Total Fees (inc GST): $49.44

In Australia the GST is 10% so the GST should be $4.49 not $4.56? 

Is this because the GST charges are calculated and paid several times over the course of a month, so the rounding puts it out by a few cents? It's just the first time I've noticed so I wanted to make sure I understand.


Thanks!

[BernadetteA]

Hi @emartinson 

I'm sorry for the delayed response here! I'm not too familiar with Australia taxes, but I am checking with the team to see if I can get some clarity here for you. 

I think what you are saying makes sense, but again, I want to double-check and confirm with the team. I appreciate your continued patience, and my apologies again for not getting back to you sooner. 

[littlegoose]

Hi @emartinson I am experiencing something similar - did you get a response on this?

[kwalkerpt]

did you ever get an answer to this question? I just noticed this too whilst trying to sort my financials.

[emartinson]

No, still no clarity on this.