What the appropriate Cr catergory can I use for two following journals, refund of transaction fee from stock exchanger etc

Hi,
Wonder if someone can give me a suggest for following two journals I created. but looks like Cr item not in correct sub-catergory:

  1. I received a refund of transaction fee (say $19.95) from the stock trading centre, what is the appropriate Cr I should use, apparently I use 26500/001(other income) for Cr, Not really feel it is a correct one, any suggestion?

  2. For an investment property, we are paying the Water Rate, as tenant claim they won’t open a usage account for their own, rather, do a reimbursement to me for usage part, what is an appropriate Cr for this amount the tenant paying to me.
    I currently use 42150/Property (property expenses–water Rates) as Cr, does this sound right?

Thank you very much in advance, as a newbie for double-entry bookkeeping, it is not easier and please give helping hand if you could, thank you and Cheers

Guoping

Unless you work in a large accounting firm - these accounting basics can’t be found via a google search.

  1. Share trading brokerage fees are a capital expense and affect CGT only - you would CR the 77600/ account for the share transaction the fee was related to.
    For SMSFs, gains/losses from trading investments is pretty much always going to be a CGT event.

  2. Property reimbursements are income recorded to the 28000/ account - you need to do this especially if it is for commercial property and the super fund is registered for GST.
    Commercial Tenants have to pay the reimbursement amount plus 10% GST on top of that.

Water Rates paid by the SMSF are recorded to Water Rates Expense as normal.

Hope that helps.

Hi, JYSuper

Thanks for helping and I followed and have done yours. Cheers.

Guoping