Skip to main content
June 15, 2020
Question

GST code when entering Superannuation payment

  • June 15, 2020
  • 1 reply
  • 0 views

Hi , I am entering my Super Payment in the expense screen, which GST code do I assign to it?

1 reply

June 16, 2020

Hi starboardcafebow,

 

Thanks for reaching out in the Community! If you are unclear on how you should be recording GST for specific transactions, this ATO guide on GST codes and classifications may be helpful. In this guide, the ATO notes that Superannuation falls under 'Items not reported on the BAS for GST purposes - Transactions not subject to GST'. 

 

The tax code 'Out of Scope' can be used if you do not need to report a transaction on the BAS. However, note that we are not accountants and ultimately can't advise what tax code you should be assigning for your books - you may wish to speak with your accountant or bookkeeper for confirmation.

 

-Kass