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NZ GST - Zero rated GST for asset accounts

At the moment Zero Rated GST can only be applied to Revenue items on the Chart of Accounts. When we deal with a property sale between GST registsred parties, the sale is also zero rated for GST purposes. We need the option to apply the 0% GST rate to asset codes as well as revenue codes. At the moment, we have to do a manual workaround.

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Trudi Ballantyne shared this idea  ·   ·  Report…  ·  Admin →
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  • Chrissy Angland commented  ·   ·  Report

    Come on Xero - Zero rated asset sales have been a thing for ages now - sort it out

  • Maressa Neal commented  ·   ·  Report

    We have a number of zero rated property sales which are sold through the asset codes which do NOT have the zero rated GST option and therefore do not appear on the GST return correctly. Doing a fudge up workaround is not ideal particularly when it is not the agency filing the GST return. Very very frustrating and not an ideal product feature