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  • #988402
    DanielM
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    I’m looking for any advice (if any) that the community would know about reward points? I was thinking of setting up a reward points business but I don’t know the legality behind it.

    I have already received some great advice and plan to act on it next week but I am just providing some extra information for some more accurate critique.

    Any advice would be helpful. More specifically, would the Government classify points under currency laws? I don’t know how the Government classifies points and/ or if you need any licenses?

    Example: frequent flyers, everyday rewards, fly buys etc

    #1166990
    Tony Manto
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    Hi Daniel, there are many versions of reward point out there, and my understanding is if it relates to dollars earned then there are some tax implications. My advice would be to speak to a lawyer or an accountant and get some professional advice. You don’t what to start and then find yourself with a big tax problem…

    #1166991
    StevenMelbourne
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    Hi Daniel,

    My business has a rewards store online where users can get rewarded with gift cards and movie vouchers etc for referral their favourite businesses.

    It depends on what you are seeking to do with your rewards and how your users earn and redeem those rewards.

    There are quite a few legal implications which I can pass on some info to you or point you in the right direction, feel free to reach out to [email protected]

    Cheers,
    Steven

    #1166992
    DanielM
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    StevenMelbourne, post: 193474 wrote:
    Hi Daniel,

    My business has a rewards store online where users can get rewarded with gift cards and movie vouchers etc for referral their favourite businesses.

    It depends on what you are seeking to do with your rewards and how your users earn and redeem those rewards.

    There are quite a few legal implications which I can pass on some info to you or point you in the right direction, feel free to reach out to [email protected]

    Cheers,
    Steven

    Thank you Steven, I have sent you an email.

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