Activity 11
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1. What is the basic, underlying principle of GST as it relates to supply? Conduct your own research. 110 words
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2. Organisations that have registered for GST include GST in the sale price of their goods. Are there any sales that might not include GST? 90 words
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3. Find out and document how government grants should be treated for GST purposes. Document your source or sources of information. 40 words
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4. Explain what aTax Invoiceis, and the information that must be included on a tax invoice. 130 words
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Activity 12
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1. A business had in a quarterly reporting/ payment period:
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o a GST credit of $15,000
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o a PAYG instalment liability of $6,000
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o a PAYG withholding liability of $1,500, and
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o an FBT liability of $1,000
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In these circumstances would the business need to make any payments to the ATO, and if not, why not? 30 words
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2. Why is it necessary to maintain adequate records to support the taxation accounting system and to code purchases and/or payments as per GST classifications? 130 words
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3. Do you pay GST on taxable supplies and can you claim GST credits for purchases associated with taxable supplies? 30 words
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4. What is a mixed supply? 90 words
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5. What are input taxed supplies, and do you charge GST on them? 90 words
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