Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. Wines R Us (operating as a company) is a wholesale of wines, distributing wines to retailers. In the December quarter their total wine sales

image text in transcribed
4. Wines R Us (operating as a company) is a wholesale of wines, distributing wines to retailers. In the December quarter their total wine sales were $760,500 (including GST & WET) Calculate the WET payable and complete the BAS extract show your workings Summary If you are using GST Option 3 leave 1B, 1C, 10, 15, 1F blank Amounts you owe the Tax Office GST on sales or GST instalment 1A $ Wine equalisation tax 1C S Da Luxury car tax 1E S DO PAYG tax withheld 4 $ PRYG Income tax 5A S instalment FBT instalment 6A $ Deferred company/tund instalment 7 $ 1A-10.1.4SA +6A+7 8A S % % % % % % % % 5. Brian, a sole trader, who conducts a business growing olives and is registered for GST. His total fuel usage for April 2021 in operating his agricultural machines was 10,000 litres of petrol & diesel Calculate the Fuel Tax Credits (FTC] show your workings 4. Wines R Us (operating as a company) is a wholesale of wines, distributing wines to retailers. In the December quarter their total wine sales were $760,500 (including GST & WET) Calculate the WET payable and complete the BAS extract show your workings Summary If you are using GST Option 3 leave 1B, 1C, 10, 15, 1F blank Amounts you owe the Tax Office GST on sales or GST instalment 1A $ Wine equalisation tax 1C S Da Luxury car tax 1E S DO PAYG tax withheld 4 $ PRYG Income tax 5A S instalment FBT instalment 6A $ Deferred company/tund instalment 7 $ 1A-10.1.4SA +6A+7 8A S % % % % % % % % 5. Brian, a sole trader, who conducts a business growing olives and is registered for GST. His total fuel usage for April 2021 in operating his agricultural machines was 10,000 litres of petrol & diesel Calculate the Fuel Tax Credits (FTC] show your workings

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: John Hoggett, Lew Edwards, John Medlin, Keryn Chalmers, Jodie Maxfield, Andreas Hellmann, Claire Beattie

9th Edition

1118608208, 978-1118608203

More Books

Students also viewed these Accounting questions

Question

Where do I give in to my bad habit?

Answered: 1 week ago

Question

=+vii. Bullet points to emphasize important ideas.

Answered: 1 week ago