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Sales tax codes : Australia
For Australia you will most likely require a sales tax code of GST with 10%, and another sales tax code of GCA with 10% to record sales and purchases of capital goods. You may also require additional sales tax codes for other categories of goods and services tax (GST). You should consult your accountant if you are unsure what other sales tax categories you require and what the rate should be.
The common sales tax codes for Australia are:
| Code | Description |
|---|---|
| GST | Taxable Supply |
| GCA | Taxable Capital Expenditure |
| NT | Not Taxed |
| INP | Input Taxed Supply |
| FRE | Free of GST |
| ADJ | Adjustments |
| EXP | Export Sales |
| PVT | Private Use |
| WET | Wine Equilisation Tax |
If you are unsure what rates to apply for each tax code then you should contact your accountant or the ATO.
These codes and rates were accurate as of the time of writing however they may change and therefore if you are unsure you should contact your accountant or the ATO.
Add Australian Sales Taxes Option Menu
You can set up a default set of sales tax codes for Australia from the sales tax codes screen by selecting "Add Australian Tax Codes" from the option menu. You can then adjust them as required before using them.