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Experienced User
Posts: 130
Registered: ‎22-07-2011
Australia
Accepted Solution

Tax Code

Hello Everyone,

 

I have gone blank and need help.

 

We are paying of a car by way of a Chattel Mortgage, should the interest expense be coded FRE or N-T.

 

And with Machine insurance what should the interest expense be FRE or N-T

 

Also Stamp Duty that is FRE is that right?

 

We have machinery which is parked and we pay rental, now the owner of the property is not registered for GST so would i put that as FRE or GNR.

 

Hope someone can clear this up for me, i get really confused with these tax codes

 

Thank you

 

Anne

Ultimate Cover User
Posts: 843
Registered: ‎17-02-2007
Australia

Re: Tax Code

Hi Anne

 

This advice is of a general nature and I would suggest that you have a chat with your Accountant

 

Interest Paid - FRE

Stamp Duty - N-T

Not registered for GST  - GNR

 

 

Leanne Berry - MYOB Certified Consultant
Director- Love Your Numbers Pty Ltd
P - M 0417 403 696 - E leanne@loveyournumbers.com.au

Experienced User
Posts: 130
Registered: ‎22-07-2011
Australia

Re: Tax Code

Thank you Leanne much appreciated.

 

Anne