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Instructions to Student 3.1. Read the scenario below and complete the following activity. Scenario The main sales and services of a marina business comprise storage
Instructions to Student 3.1. Read the scenario below and complete the following activity. Scenario The main sales and services of a marina business comprise storage fees, sales of petrol and boat stores. The business also has a boat broking segment, building special craft for sale to an overseas buyer. In the corner of the property is a cottage from which residential rent is collected every month. Categorise the marina's inputs and outputs examples of a transaction in the table below, identify if they are revenue or capital, and categorise their tax status in relation to BAS. An answer table is providing below to assist with this question; some have been completed to demonstrate what is required. (Guide: classify the below transactions with explanation) Revenue Capital Category Taxable supplies Transaction Fees received for berths on the marina Sales of petrol Sales of stores (bread & milk) Sales of specialty craft to overseas buyer Residential rent on cottage New hot water system in cottage Repair to marina kitchen Wages paid to marina staff 3.2. Input-taxe-no GST Instructions to Student 3.1. Read the scenario below and complete the following activity. Scenario The main sales and services of a marina business comprise storage fees, sales of petrol and boat stores. The business also has a boat broking segment, building special craft for sale to an overseas buyer. In the corner of the property is a cottage from which residential rent is collected every month. Categorise the marina's inputs and outputs examples of a transaction in the table below, identify if they are revenue or capital, and categorise their tax status in relation to BAS. An answer table is providing below to assist with this question; some have been completed to demonstrate what is required. (Guide: classify the below transactions with explanation) Revenue Capital Category Taxable supplies Transaction Fees received for berths on the marina Sales of petrol Sales of stores (bread & milk) Sales of specialty craft to overseas buyer Residential rent on cottage New hot water system in cottage Repair to marina kitchen Wages paid to marina staff 3.2. Input-taxe-no GST
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