Forum Discussion

SueAlbury's avatar
SueAlbury
Contributing Cover User
10 months ago

Entering rental income with deductions that dont have gst on full amount

Hi I have received a rental statement with deductions for insurance payment and the gst amount is not on the full amount, how do I enter this in MYOB Business.   I appreciate your help in advance. 
KellyKellyProp's avatar
KellyKellyProp
Experienced Cover User
8 months ago

Hi Sue,

There is no GST on the stamp duty portion of insurance premiums, so you will have to get a copy of the invoice for the insurance paid, which should have the break down of the costs, then enter the premium inclusive of GST and the stamp duty portion exclusive of GST (GST Free). 

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