Whats the tax code for Telegraphic transction fee?

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Melisa
Melisa Member Posts: 9 ✭
edited August 2019 in Reckon Accounts (Desktop)
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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  • Lee_8688889
    Lee_8688889 Member Posts: 84 ✭✭
    edited June 2017
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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. 
  • Melisa
    Melisa Member Posts: 9 ✭
    edited June 2017
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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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