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GST on credit card rebate/cash back?

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Old 24-05-2018, 11:29 AM   #1
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GST on credit card rebate/cash back?

Recently I saw a $12.60 charge on my POSB Everyday card labelled "GST @7%".

I was wondering what is that?

Could it be GST for the cash back/rebate that I have received from the card? (Is this yearly/monthly GST?)

I read something on GST for credit card rebates at this URL: https://www.iras.gov.sg/irashome/upl...20Industry.pdf
(Too long and complicated for me to understand)

Or is it something else altogether?

Thanks for any confirmation.
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Old 24-05-2018, 11:31 AM   #2
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Join Date: Apr 2015
Posts: 14,525
Recently I saw a $12.60 charge on my POSB Everyday card labelled "GST @7%".

I was wondering what is that?

Could it be GST for the cash back/rebate that I have received from the card? (Is this yearly/monthly GST?)

I read something on GST for credit card rebates at this URL: https://www.iras.gov.sg/irashome/upl...20Industry.pdf
(Too long and complicated for me to understand)

Or is it something else altogether?

Thanks for any confirmation.
you being charged card annual fee also? think this is GST for the annual fee.

Definitely not GST for rebate.
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Old 24-05-2018, 11:35 AM   #3
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Join Date: Apr 2015
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$12.60 GST for annual fee of $180 before GST
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Old 24-05-2018, 11:37 AM   #4
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Join Date: Jan 2015
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you being charged card annual fee also? think this is GST for the annual fee.

Definitely not GST for rebate.
Oh my, you are right.

The calculations match: $192.60 divided by 107 times 7 = $12.60.

Any chance of requesting for fee waiver at this stage?
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Old 24-05-2018, 11:39 AM   #5
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Gst for annual fee... Get them to refund

Sent from Samsung SM-G965F using GAGT
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Old 24-05-2018, 12:08 PM   #6
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Oh my, you are right.

The calculations match: $192.60 divided by 107 times 7 = $12.60.

Any chance of requesting for fee waiver at this stage?
Just call the bank hotline. Can use their automated system to request waiver.
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