HomeBusiness News UpdatesGST Treatment Of Credit Card Fees & Surcharges

GST Treatment Of Credit Card Fees & Surcharges

Some retailers charge an additional fee or surcharge as reimbursement for the fee they are charged by their credit card processing company.

If your business is registered for GST and you charge a fee or surcharge to customers who pay by credit card you must include that fee or surcharge as income (Box 5) on your GST return.

When you pay the amounts of the surcharge to the credit card company you can claim these charges in (Box 12) as an expenses.

Gilligan and Company Limited

PO Box 9606
Auckland 1149

Level 4
20 Kent Street
Auckland 1023
New Zealand

Ph +64 9 522 7888
Fax +64 9 522 7893

Email This email address is being protected from spambots. You need JavaScript enabled to view it.

Client Login

Latest News

IRD's Latest Unclaimed Money List
Thursday, 07 July 2016
This list names tax payers who are owed cash that has been left untouched for six or more years in companies such as financial institutions and insurance...
When it comes to keeping business records the question is often asked what should be kept and for how long. Tax records include any information or document about...
Local Auckland time is currently: Sunday, 17th December 2017 1:33:pm