Whats the tax code for Telegraphic transction fee?
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Melisa
Member Posts: 9 ✭
We paid USD to a supplier using Australian dollar account, then we were charged Telegraphic transaction fee, does anyone know what tax code should I use for Telegraphic transaction fee?
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I'm guessing that the TT fee came through in your AUD bank account. i'm assuming this is an Australian bank account, not just an AUD account in an o/s bank. If so then the bank's fee will include the normal 10% GST and use the NCG tax code. that's what I do. Hope that helps.1
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Thanks Lee, you are right. it is GST inclusive.
And Thanks Kevin, I have called ANZ bank and they have advise me it has GST in it.
I thought it was a simple Yes or No question, but I was transferred 5 times before they could find someone with aussie accent can answer the question.
Anyway, Thanks again. guys,
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