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Payout GST Calculation 2026 Update

Overview

Effective from payouts on 05 January 2026, Qashier has updated the way tax is calculated for e-wallet payouts.


This change ensures more accurate and fair tax calculations, especially for low-value transactions, by preventing over-rounding at the transaction level.

Scope of Impact

  • PayNow SG

  • GrabPay SG

  • Other Singapore e-wallets

Background

Period affected: 21 November 2025 – 04 January 2026

During this period, tax was calculated and rounded per transaction.
For transactions with very small fees, this caused the tax amount to appear higher than the exact 9% when rounded individually.

Example

Tax rate: 9%

Transaction Fee

Exact Tax

Rounded Previously

0.01

0.0009

0.01

0.02

0.0018

0.01

Resolution (Live from payouts on 05 Jan 2026)

The tax calculation method has been updated as follows:

  1. Tax is calculated per transaction with high precision (up to 6 decimal places)

  2. All transaction-level tax amounts are aggregated at the daily settlement level

  3. Rounding is applied once, on the final daily total only

This approach prevents over-rounding and improves accuracy.

New Rounding behaviour

Only the final daily tax total is rounded to the nearest cent.

Examples:

  • 0.00500 → 0.01

  • 0.02220 → 0.03

Changes to HQ and payout reports. Although the 'Tax Amount' and 'Credit Amount' columns have been removed, you can still find these details in the breakdown section of the payout report. This section provides a summarized view of the tax totals and other relevant details for each settlement.

To reduce confusion:

  • Only the final Tax Amount per settlement file is displayed

  • Transaction-level tax columns have been removed from payout reports

How merchants can tally their payout:

  1. At the bottom of the payout report:

  • Total Transaction Amount

    • 503.65

  • Total Tax Amount (C) → 9% of the Total Transaction Fee Amount (B).

    • 2.04 × 0.09 = 0.19

  1. Total Credit Amount → calculate as A − B − C. This should match the report.

  • 503.65 - 2.04 - 0.19 = 501.42
    To reconcile your payouts using the new report format, follow these steps:

  1. Locate the Total Transaction Amount: This is the sum of all transactions included in the settlement.

  2. Identify the Total Transaction Fee: This is the total fee deducted for processing the transactions.

  3. Find the Total Tax Amount: This is available in the breakdown section of the payout report.

  4. Calculate the Total Credit Amount:

    • Use the formula: Total Credit Amount = Total Transaction Amount − Total Transaction Fee − Total Tax Amount

  5. Verify the Final Payout: The calculated Total Credit Amount should match the final payout shown in your report.

Frequently Asked Questions

Can I revert to the old payout report format?

No, the change is permanent starting January 5, 2026. The updated format ensures greater accuracy and resolves rounding issues.

Why were the 'Tax Amount' and 'Credit Amount' columns removed?

These columns were removed to improve precision and accuracy in tax calculations and to address rounding discrepancies. Tax is now calculated at a higher precision per transaction, and only the total tax per settlement is rounded.

How can I reconcile my payout without these columns?

You can use the formula provided above to calculate the Total Credit Amount and verify it against the final payout in your report.

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