Tax Code list

Jenny2021
Jenny2021 Member Posts: 1 Novice Member Novice Member
in Accounts Hosted

First time question, so please forgive it being a dumb question. I was looking at the Tax Code List and noticed that the taxable column is ticked for ALL codes even CAF - Capital Acquisitions (GST Free) and NCF - No Capital Acquisitions (GST Free). Is this correct?

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  • Acctd4
    Acctd4 Accredited Partner Posts: 4,197 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Hi Jenny2021

    Yes, this is correct - In this list, I think "Taxable" is actually referring to "Taxable Information", relating to a tax code being used on a sale / purchase. It's not a very clear choice of terminology 🙄

    If you double-click on one of the tax codes, it makes more sense:

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