Goodwill & Franchise

Hey Jemma,

Welcome to the Reckon Community and thank you for your post.

Firstly congratulations on your franchise purchase. As this question relates to "tax advice", it can only be answered by a accredited person (Tax agent, book keeper, Accountant etc).

I have found an article from the ATO which may be of assistance;
http://www.ato.gov.au/Business/Starting-and-running-your-small-business/In-detail/Getting-started/Franchising-and-tax/?page=2.

Should you require further help, it would be best to consult one of our Accredited Partners, who along with being specialists in Reckon products are also Tax professionals. http://goo.gl/snmKwf

Thanks,
Mirko