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Help me solve this is from taxation law 2 Khalid is in business as a sole trader and computer repairer. Khalid charged his customers $72,000
Help me solve this is from taxation law
2 Khalid is in business as a sole trader and computer repairer. Khalid charged his customers $72,000 this year and paid $22,000 for parts for his business. Should Khalid register for GST? Calculate for Khalid his GST tax payable (assuming he is registered). What is his income tax payable? Assume he has no private health insurance. Explain how you treated GST for income tax purposes. 5 levies and offsets in your answer. Chao, a retired school teacher, owns three investment properties, all residential and all in New South Wales. Advise as to the deductibility of the following expenses: purchase of third property for $450,000, plus $2,000 conveyancing fee; b $3,000 cost of repainting his second property, a townhouse, after a long-term tenant vacated; $2,000 in car expenses to check on the quality of the repairs and to view the third property before purchase; and d $4,000 in water rates for the year. aStep by Step Solution
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