03-03-2011 07:37 PM
In this case the internet and forums have totally made me unsure of what is correct. So I'm hoping I can get a definitive answer on which codes to use and hopefully your answers will help others. Could someone please confirm which GST-FREE tax codes to use for the following. .
I currently use NT for the following.
I currently use GNR
Thankyou in advance to your answers.
06-03-2011 12:40 PM
Out of your first list I would only use N-T for superannuation and that is to everyone not just your sub-contractors. Although I would assume your home electricity and gas would have GST so you would want to use GST there.
I personally only ever use FRE to record purchases without GST and that is whether the supplier is registered for GST or not. However note that by default the GNR in MYOB is set as an Input Taxed supply and not GST Free. They are not the same thing!
This link to an ATO page regarding G14 should help you decide what the ATO wants reported http://www.ato.gov.au/businesses/content.asp?doc=/
Need help with your MYOB product or service?Find out more
News, views and ideas for your businessFind out more
Courses and materials
designed to help you make
the most of your software.