44

Here in the US, stores sometimes charge such a fee for small credit card purchases. Not as much as they used to, I think. And some refuse to accept credit cards for small purchases. When I had a small retail business. the fee to process a credit card payment was, I forget the exact numbers, but like 30 cents plus 2% of the charge. The important point being, ...


10

Many small businesses are still on old EFTPOS contracts where they are billed the flat fee per transaction, so they pass it on. I've helped a few family friends and local businesses switch to more modern transaction providers that don't charge flat fees. Every one of these businesses had different fee structures because it used to be standard for the bank to ...


7

I ran a small business in the UK some years ago, when charging extra for credit card transactions was legal. We used to charge an extra 50 pence for transactions under £10. We did this, not because the card charges were that much (as I recall, we paid 1.5% for all values, or 15p on £10), but because we could. Margins are tight on small businesses. Every ...


6

You should talk with an attorney specializing in family law. The "defacto" status you are concerned about, where it exists, is called common law marriage. Protecting assets in the event of breakup of a marriage, whether standard (civil) or common law, may be addressed by a prenuptial agreement.


5

Consult a professional to see if there are alternatives to paying the tax. For example in Canada if you leave the country you could transfer the balance to a different pension account and avoid paying tax on it. You would have to pay tax on it eventually, but in the meantime it would accrue tax free interest. I don't know if such a thing is possible in ...


5

According to the Australian Taxation Office, Organisations entitled to receive tax deductible gifts are called 'deductible gift recipients' (DGRs). You can only claim a tax deduction for gifts or donations to organisations that have DGR status. On the same page, they provide a link at which you can check the DGR status of the organisation of interest: You ...


5

I can answer this question for the EU, where the situation is similar. Most, but not all so beware, of these new, online only, mobile first banks are legitimate in the sense that they are registered as banks and they are guaranteed up to 100k€. A few are working more as transaction facilitators, therefore they are not real banks and although you can use them ...


2

It's done with a electronic instant DVS Check, a credit ping (not a full check) and safe harbour If you used a stolen driver's license you could theoretically sign up (provided its not been reported stolen) but you would be committing identity fraud and it is possible to solve but its a nightmare for the victim.


2

One point I have since discovered, is that a 'mobile only' experience sucks if you lose your phone/stop using a smart phone. It means you can't easily see your balance, can't transfer money out/between accounts. It's actually quite a pain to do an account recovery. So strongly recommend not using a 'mobile only' bank as your primary bank account that your ...


2

I can't comment on Australia tax law but I can answer that in the United States a 501(c)(6) corporation isn't a charity. 501(c)(6) organizations are a type of non-profit. That means that they don't have to pay income tax. That doesn't mean that people that donate money or stuff to them can claim the charitable deduction. Charities are 501(c)(3) non-profit ...


2

In Australia, profits and losses from CFD trading are not considered capital gains or losses. You make a profit or loss whenever you close a trade. If you transfer money in or out of your trading account it has nothing to do with your profit or loss relating to trading and as such are not taxable. You simply would simply total up all your profit trades (...


2

According to the ATO website: https://www.ato.gov.au/individuals/super/growing-your-super/keeping-track-of-your-super/ato-held-super/ They hold the money for you in a non-investment account for up to 10 years before they claim it as abandonded. It doesn't specify any interest, so it's likely that it doesn't accrue any. The interest rate is set to the ...


1

You just need to sign up another PayPal account using another email address. Each PayPal account can only be associated with 1 country. To send money between 2 PayPal accounts of different country would cost 1%+ even if the currency is the same.


1

That's right. 1.5% is the unwritten rule for leased PDQ machines. In the UK, I've worked with about 6 or 7 retailers and all of their card terminal suppliers have the same charging rate. It was typical for business to charge anywhere from £0.50 to £1.00 as a "card usage fee" where the transaction was below £5 or sometimes even £10. In 2017, the EU ...


1

Is there any guarantee from the Open Banking rules that have been put in place that will make my bank provide me with APIs to access my own personal banking data? No there is not. The Open Banking initiative is designed to make it easier for large companies that are individually assessed and accredited by the ACCC to share data (eg allowing mortgage brokers ...


1

...how to deal with the fact that no money changed hands. This doesn't factor into the question- instead what you're missing here is some fundamental understanding of accounts and transactions. The shares in question are moving between accounts, and the capsule for moving anything between two accounts is a transaction. Just because you're creating a ...


1

There are two separate issues here. Realised vs Distributed, Revenue Gain vs Capital Gain. The two links that you linked mainly concerns Revenue Gain vs Capital Gain. In both Revenue Gain and Capital Gain: Note that this only applies to a loss you get from disposing of investments – not where you have made a 'paper loss' on investments you continue ...


1

Note that you cannot contribute more than $25K per year into your super fund as concessional contribution (pre-tax contributions). You can however contribute an additional $100k per year in post-tax contributions (or $300k over a 3 year period - so if you contribute $300k now you cannot contribute any more for another 3 years). Saying that, your ATO link ...


1

EDIT The $110 that you asked the customer to pay was always intended to be $100 in payment for the lawnmowing services, and $10 collected on behalf of the taxman. I would suggest that the transactions on 2019-01-01 should be: Assets:Accounts Receivable 110.00 Income:Alice -100.00 Liabilities:GST:...


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