What is the tax code for bank charges - monthly plan fee & merchant fees please?

Vanessa_10085275
Member Posts: 37 Reckoner

What is the tax code for bank charges - monthly plan fee & merchant fees please?
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Answers
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Hi Vanessa
Bank account/transaction fees are usually GST-free so these are NCF.
Merchant Fees tend to include GST so these are NCG.
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 *
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Ballajura, WA
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