The default owner settings are found under  > System Settings > Owner Statements:



Tax on Expenses for Owner Statement - refers to whether expenses to the owner is taxed.


Tax Code on Expenses - pertaining to the previous setting, if it is set to 'yes', then select the tax code to apply in the drop down box.


Tax applies on merchant fee - If tax applies on the merchant fee, select yes.


Tax code on merchant fee - pertaining to the previous setting, if it is set to 'yes', then select the tax code to apply in the drop down box.


Tax code on management fee - refers to whether there is tax on the management fee.


Depending on the settings done here, a generated owner statement will have the tax calculations added on before it gets sent to the owner.