Tax deductible?

[harness7]

I have just started using Square and have noticed my payments have tax taken out.  Why is this happening as I am tax exempt 

I do not take tax from my customers.

Please explain.  

Kind Regards Dennis Armstrong

[Seamus · Accepted solution]

Hi @harness7,

Thanks for getting in touch.

To clarify, the Tax amount shown in your daily sales summary is not a deduction. It is simply showing the proportion of your sale(s) that you have designated as tax, for record keeping purposes. By default, all Square accounts have GST enabled. For instructions to disable it, visit our Support Centre.

To view your total deposit amounts and confirm that Square has not deducted this tax, follow these steps:

1. Visit Deposits in your online Square Dashboard.
2. Use the date selector near the top left-hand corner to select a date range of your choice.

Hope this helps sheds some light on what's happening there - we definitely do not collect tax on behalf of the ATO.

[bellizzymo]

Newbie here-just did a test payment for $1.00, all went through Ok but amount in my account is $0.91. I keyed the cc details in so was expecting a a fee of 2.2% not 9%???

[bellizzymo]

Ok just sussed that although my account says 91cents I have 98 cents I acn transfer out so assuming its a GST thing??

[Arie]

Hi @bellizzymo,

I've merged your question to this post where someone else had the same question. We merge posts in the community to make finding questions easier 🙂

Check out the best answer to learn more about your GST settings.