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Accounting partners is registered for gst

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Assuming that where GST applies (i) prices are GST inclusive and (ii) unless told otherwise, a valid tax invoice has been supplied, advise Accounting Partners as to the GST implications of the following transactions: Accounting Partners is registered for GST and undertakes the following transactions for the fax year.

  • Purchases of soft drinks from a major supermarket for the staff room: $1,000.
  • Purchases of water from a major supermarket for the staff room: $1,000.
  • Payment of interest on business loan: $350.
  • Purchase of new computer equipment: $4,400.
  • Sales of services locally: $3,000,000.
  • Overseas sales of the Partnership's book 'How to Maximise International Sales to an Australian Market': $250,000.

Reference no: EM133266612

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