What is the Goods and Services Tax (GST) in Australia?
The Goods and Services Tax (GST) is a broad-based consumption tax levied on most goods and services supplied in Australia. Under Australian tax regulations administered by the Australian Taxation Office (ATO), a 10% GST applies to service fees, commissions, and trading fees charged by crypto exchanges.
This means that, in addition to standard trading and service fees, Bybit users who are Australian tax residents must also pay an additional 10% GST. However, this tax does not apply to fee-free services or to certain exempt financial supplies (such as spreads on Convert, interest, and UTA loan liquidation fee income).
Who is subject to GST in Australia?
GST applies to any user whose verified identity indicates they are an Australian tax resident. This includes cases where any part of the Identity Verification (KYC) details or declared address shows Australia as the user's location.
My country/region of residence has changed. How can I update my Identity Verification information?
If your country of residence has changed, please update your verification information through the self-service function.
What products and services are subject to GST?
A 10% GST will be applied on top of the trading or service fees for the following products.
Disclaimer:
Please note that this is only a general overview of scenarios where GST may be charged. As Bybit's product offerings are subject to ongoing updates, Bybit reserves the right to apply GST to applicable scenarios that may not be explicitly listed here.
What is exempt from GST?
The following are exempt from GST under Australian financial supply rules:
How is GST calculated?
GST is calculated as 10% of the applicable fee:
GST = Fee amount × 10%
Total user cost = Fee amount + GST
The calculation retains up to 8 decimal places for precision.
Where can I find the GST information?
Before confirming your order, you can view the amount you'll pay and receive, along with the applicable GS..
After the order is filled, you can find the details from:
- The Trade History section at the bottom of the trading page.
- The Trade History tab on the Orders page.
Are there any other products or services impacted?
In line with Australian regulations, certain products may not be available or may have limitations for Australian users. Please refer to the platform for the most up-to-date information on product availability.
Disclaimer:
Please note that this is only a general overview of scenarios where GST may be charged. As Bybit's product offerings are subject to ongoing updates, Bybit reserves the right to apply GST to applicable scenarios that may not be explicitly listed here. All applicable taxes are collected in full compliance with Australian law.