MissMoonified
patreon
Patreon Taxation Update
🕑 Added 2020-05-30 11:41:15 +0000 UTCI'm just posting to give you a heads up that come July Patreon is updating their taxation policy now requiring them to collect and pay tax on pledges in regions that require it.
Some of you already pay this tax (VAT for example), and others will be in areas that it won't affect (for example, only 36 of the US states charge it) but for others it'll mean a small monthly charge increase.
The reason for the change is that Patreon has more or less lost the argument that digital content does not constitute a 'good'. So if your region has a 'goods and services' tax the portion of any pledge you make that is a 'good' is taxable, even if it's just access to audios or the scripting rewards.
It's all a bit complicated because who can say exactly how much you're signing up to support your creator versus just getting the reward, so each creator allocates a weighting to each benefit. I've tried to keep the tax you'll pay as low as possible while still being honest about the rewards, so please bear with me while I try to figure all this out.
Patreon will contact you directly about it in June but in the meantime, the full details can be found here.
Comments
BlushyDewd
Thank you for mentioning this Mooni! I need to let my patrons know about this as well...
