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Are account keeping fees subject to GST?

April 26, 2017account fees GST keeping Subject

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Are account keeping fees subject to GST?

1 Answer

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No. Account keeping fees are not subject to GST. An account keeping fee is related to operating a bank account or credit account and is a financial supply under items 1 and 2 respectively of subregulation 40-5.09(3) of the GST Regulations.