Tax Code list

Options
Jenny2021
Jenny2021 Member Posts: 1 ✭
in Accounts Hosted

First time question, so please forgive it being a dumb question. I was looking at the Tax Code List and noticed that the taxable column is ticked for ALL codes even CAF - Capital Acquisitions (GST Free) and NCF - No Capital Acquisitions (GST Free). Is this correct?

Comments

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,426 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Options

    Hi Jenny2021

    Yes, this is correct - In this list, I think "Taxable" is actually referring to "Taxable Information", relating to a tax code being used on a sale / purchase. It's not a very clear choice of terminology 🙄

    If you double-click on one of the tax codes, it makes more sense:

    image.png


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)

Categories