Change to tax codes for your Sundry Tax Invoice/RCTI statement journal

Department of Education

27 March 2020

From 1 February 2020, GST no longer applies to any transaction between schools and corporate. The Sundry Tax Invoice(STI)/Recipient Created Tax Invoice (RCTI) statement now only records GST exclusive charges.

You only need to use the out of scope tax codes P5 for expenses and S5 for revenue in your STI/RCTI statement journal.

When selecting a tax code, the general ledger (GL) account type will determine whether you need to use an 'S' (sales) or a 'P' (purchasing) tax code. Please note:

  • When using a revenue GL 4XXXXX – an 'S5' tax code must be used for a debit or credit in revenue.
  • When using an expense GL 5XXXXX – a 'P5' tax code must be used for a debit or credit in expenses.

If you have created a template for your monthly STI/RCTI statement journal, please edit tax codes as required before processing your next journal.

Process your Sundry Tax Invoice/RCTI Statement Journal for 01.02.2020 – 21.02.2020 statement by 31 March 2020. Please ensure the statement amount has been posted to the clearing account (GL500030). This statement will not contain GST.

See the updated Process a Sundry Tax Invoice/RCTI Statement Journal QRG.

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