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Dobby123123(Newbie)Newbie
25 June 2021

I am trying to figure out the tax code for bank fees.

In the article below, the ATO said bank fees are input taxed supplies.

https://www.ato.gov.au/business/gst/claiming-gst-credits/when-you-cannot-claim-a-gst-credit/

But in another article below, the ATO said bank fees are BAS excluded (not reportabe).

https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/Goods-and-services-tax-(GST)/Simpler-BAS-GST-bookkeeping-guide/

Can anyone confirm whether bank fees are input taxed, GST free, or BAS excluded (NT)? Thanks a lot.

Regards

Ray

48,461 views
9 replies
48,461 views
9 replies

Most helpful response

Most helpful reply

Chantelle ATO(Community Support)Community Support
25 June 2021

Hi @Dobby123123


The first link you've mentioned refers to the purchases for input-taxed sales.


If you look at Table 5: Purchases with no GST in the price or where no GST credits can be claimed on our website, you will see a row for 'purchases for input-taxed sales'.


The GST tax code is 'No GST' and does not need to be reported on BAS.

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