Question
2) A sole proprietor, who is registered for sales tax, earned $20,000 in revenue and paid $15,000 in expenses. These expenses do not include any
2) A sole proprietor, who is registered for sales tax, earned $20,000 in revenue and paid $15,000 in expenses. These expenses do not include any charges for meals and entertainment. The taxpayer is in a province that has 5% GST, and uses the simplified ITC calculation. How much GST will the taxpayer remit?
A. $0
B. $250
C. $652
D. $238
E. none of the above
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Audit Effectiveness Meeting The IT Challenge
Authors: Kamil Omoteso
1st Edition
1409434680, 9781409434689
