Question
Explain whether input tax credits would be available for the following acquisitions. You can assume that the acquirer is registered and, where appropriate, GST has
Explain whether input tax credits would be available for the following acquisitions. You can assume that the acquirer is registered and, where appropriate, GST has been charged on the supply 1. a hot water system, costing $1,870, purchased by a landlord for installation in an office rented to an accountant for use as her business premises 2. $1,100 spent on a meal and wine by a business person for himself and two of his clients 3. a car purchased by an employer to provide to an employee as a fringe benefit for the employees private use 4. a $660 establishment fee paid by an individual to a bank when the bank lends her $50,000 to renovate her business premises 5. a company costing $4,400 purchased by an employee. The computer is used by the employee 30% of the time when she is working at home for her employer and 70% for playing games and using Facebook
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