GST Free

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Here are some examples when you might code something as GST free.

  • Bank charges
  • Payments to suppliers who have an ABN but are not registered for GST
  • Interest expense
  • GST free food items and other free items under the act
  • Overseas expenses where the total GST is not paid via the customs agent

There may be occasions where a component of an invoice is GST Free but is not itemised and you need to calculate it manually, [bookkeepingpedia.com.au/wiki/index.php?title=GST_Free_Portion_Calculation click here] for GST free portion calculation.