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Experienced User
redroses
Posts: 105
Registered: ‎22-07-2011
Australia
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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

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Super Partner
LeanneBerry
Posts: 751
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
Consultant - Love Your Numbers Pty Ltd
P (02)6334 2657 - F (02)6334 4516 - M 0417 403 696 - E leanne@loveyournumbers.com.au

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Experienced User
redroses
Posts: 105
Registered: ‎22-07-2011
Australia
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Re: Tax Code

Thank you Leanne much appreciated.

 

Anne

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