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

Vanessa_10085275
Vanessa_10085275 Member Posts: 28 ✭
in Accounts Hosted

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

Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,167 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    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 ! ***

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