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tonyr2's avatar
tonyr2
Experienced User
4 years ago

GST code for interest expense

Hi, I am using AccountRight 2020.3, I would like to know the GST code to be used for Interest expense on loans and motor vehicle Chattel Mortgage Interest for reporting in BAS. I am currently using ...
  • Steven_M's avatar
    Steven_M
    4 years ago

    Hi tonyr2 

     

    If you are unsure about which tax code you should use for your transactions it is recommended that you do speak to an accounting advisor. 

     

    Generally speaking, the majority of businesses, would not need to add additional tax codes, however, if required these can be added through List>>Tax codes>>New. 

Steven_M's avatar
Steven_M
Former Staff
4 years ago

Hi tonyr2 

 

If you are unsure about which tax code you should use for your transactions it is recommended that you do speak to an accounting advisor. 

 

Generally speaking, the majority of businesses, would not need to add additional tax codes, however, if required these can be added through List>>Tax codes>>New. 

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