Forum Discussion

b555's avatar
b555
Contributing User
3 years ago
Solved

0 GST vs GST FRE

If a receipt has GST: $0.00 , should you code to FRE or just change the GST to zero manually. Or does it not make any difference. 

  • Steven_M's avatar
    Steven_M
    3 years ago

    Hi b555 

     

    It depends on how that transaction is to be reported. If the transaction is required to appear against the GST Free tax code for your activity statement/internal reporting then you should be using that FRE or zero-rated tax code.

     

    I would recommend speaking to your accounting advisor about the appropriate tax code for your transactions to meet your reporting obligations.

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  • Steven_M's avatar
    Steven_M
    Former Staff
    3 years ago

    Hi b555 

     

    It depends on how that transaction is to be reported. If the transaction is required to appear against the GST Free tax code for your activity statement/internal reporting then you should be using that FRE or zero-rated tax code.

     

    I would recommend speaking to your accounting advisor about the appropriate tax code for your transactions to meet your reporting obligations.

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