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

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Vanessa_10085275
Vanessa_10085275 Member Posts: 35 ✭
in Accounts Hosted

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

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  • Acctd4
    Acctd4 Accredited Partner Posts: 3,599 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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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

    shaz@accounted4.com.au

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    (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!)

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