Forum Discussion

NFP_Dea's avatar
NFP_Dea
Member
10 months ago
Solved

Tax Code - no ABN with Statement to not withhold

Hi, anyone know best practice for purchases tax code where Supplier doesn't have an ABN but has provided an ATO Statement to not withhold - 0%. (E.g. they are an individual under 18 years and the pa...
  • Earl_HD's avatar
    Earl_HD
    10 months ago

    Hi NFP_Dea,

    For this type of issue, we recommend reaching out to an accountant for an accurate answer. But to give you an idea, if the supplier doesn’t have an ABN but has given you an ATO statement saying no withholding applies, the best way to handle it is:
     

    Use the N-T (Not Reportable) tax code – This keeps it clean and avoids any GST or withholding issues.

    You could also use "Not Registered 0%" (NTR) – Even though it's meant for suppliers with an ABN but no GST registration, it still works for this situation.

    Regards,
    Earl
     

Earl_HD's avatar
Earl_HD
MYOB Moderator
10 months ago

Hi NFP_Dea,

For this type of issue, we recommend reaching out to an accountant for an accurate answer. But to give you an idea, if the supplier doesn’t have an ABN but has given you an ATO statement saying no withholding applies, the best way to handle it is:
 

Use the N-T (Not Reportable) tax code – This keeps it clean and avoids any GST or withholding issues.

You could also use "Not Registered 0%" (NTR) – Even though it's meant for suppliers with an ABN but no GST registration, it still works for this situation.

Regards,
Earl
 

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.