Imagine you are working as a graduate tax accountant at the local tax firm in Perth, Western Australia. You are assisting the senior tax practitioner, Abigail, with a business client's GST compliance.

Twenty Questions & Co is a business registered for GST located in regional New South Wales. The business has records for the quarter ending 31 March 2022 as follows:\

Additional information:

1. Where applicable, figures are GST inclusive.
2. Valid tax invoices are held for all relevant payments.
3. All payments relate to the carrying on of the business.
4. The business accounts for GST on a cash basis and lodges quarterly business activity statements.
5. Unless stated, sales are connected with Australia.
6. Gift vouchers are sold with a stated monetary value and entitlement to the holder to buy goods up to the stated monetary value.
7. Export sales relate to sales to Japanese clientele and were exported within 60 days of receiving consideration.

REQUIRED:

Calculate the net GST payable (refundable) to the ATO for the period ending 31 March 2022 by answering the following questions

Question: Determine the net GST payable (refundable) to the ATO by completing the following summary taken from the business activity statement (2 marks):

\begin{tabular}{l|l|l} \hline Amounts you owe the ATO & Amounts the ATO owes you \\ GST on sales or GST instalment 1A $ & [Input] & GST on purchases 1B$[ Input] \end{tabular} 9 Your payment or refund amounts $ [Input]