Changes to Tax Codes for Australia

22/02/2013 12:00:00 AM

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Changes to Tax Codes for Australia

Hi there,

By popular request two Tax Codes are being replaced in Xero for the Australian market so that they are easier to understand for day-to-day transactions and easier to handle at BAS time. The changes will happen in late March.

Most people are using the Tax Codes as we provided them, in which case the existing codes will simply be mapped to the new codes. A few people have customised Tax Codes so we’ll contact these subscribers on a case-by-case basis before the changes.

The changes are:

  • “No GST” and “GST Exempt” codes are being removed and will no longer be available.
  • “BAS Excluded,” “GST Free Expenses” and “GST Free Capital” are being added.

While we are making the changes for you, we do recommend you check your Chart of Accounts after the release.

We recommend you register for our webinar about the new codes and changes. Join us on 1 March.

Best regards,

The Xero Team

Posted by Justin Redfern (ClickPOS) on behalf of Xero

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