Mathematics, 03.06.2020 19:00, dannyo6680
The final consumer of the product pays GST. Consider the following:
A fabric merchant sells fabric at $66 (including the
10% GST) to a dressmaker. The merchant makes $60
on the sale and passes the $6 GST onto the Australian
Tax Office (ATO)
A dressmaker uses the fabric and sells the product
onto a retail store for $143 (this includes the $13
GST). As the dressmaker has already paid $6 in GST
when they bought the fabric they have a GST tax credit
of $6 and they pass on the $7 to the ATO.
The retailer sells the dress for $220, including $20
GST. As the retailer has already paid $13 in GST to the
dressmaker, they are required to forward the extra $7 to the ATO.
The consumer who buys the dress bears the $20 GST included in the price.
16 Copy and complete the following.
Raw material S1 10 (includes the 10% GST)
GST on sale
GST credit $0
Net GST to pay
Production stage $440 (includes the 10% GST)
GST on sale
GST credit =
Net GST to pay =
Distribution stage $572 (includes the 10% GST)
GST on sale =
GST credit =
Net GST to pay
Retail stage $943.80 (includes the 10% GST)
GST on sale =
GST credit =
Net GST to pay =
GST paid by the final consumer =
Answers: 2
Mathematics, 21.06.2019 16:00, johrenandez
What two criteria are needed for triangles to be similar
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Mathematics, 21.06.2019 21:30, justkevin1231
The domain of a function can be represented by which one of the following options? o a. a set of output values o b. a set of f(x) values o c. a set of input values o d. a set of both input and output values
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The final consumer of the product pays GST. Consider the following:
A fabric merchant sells fabric...
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