Sale of Motor Vehicle gst

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HI, we traded in a company motor vehicle so I provided a tax invoice to the car dealership. The transaction is under account Non-Current Asset - Sale of MV. What should the tax code be? Should it be against CAP gst code for the BAS? Thanks
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Wendy Van Oosten

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Posted 1 year ago

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John Peppas, Accredited Partner

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GST code
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Wendy Van Oosten

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Thanks John, sorry I tried to delete the comment before someone took the time to reply. I looked it up in the ATO. Cheers.
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Kevin Russell, Accredited Partner

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CAP ia used for ACQUISITIONS not disposals
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John Peppas, Accredited Partner

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Hi Kevin

Is CAP a standard Reckon Code?

I though CAG was for Capital Acquisitions GST Included?
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Wendy Van Oosten

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yes sorry, CAG.