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Maharaj Pty Ltd is an Indian restaurant that specialised in lamb and chicken biryani, Maharaj cater both dine in and take away, Maharaj located in

Maharaj Pty Ltd is an Indian restaurant that specialised in lamb and chicken biryani, Maharaj cater both dine in and take away, Maharaj located in Melbourne CBD where the company pay rents to the landlord that own the space. Maharaj employs 5 salaried staffs and registered for GST.

Maharaj also own 3-bedrooms apartments (residential) that the company rent out for the amount of $750/week ($39,000/year)

For the period ending 30 June 2021, the company recorded the following transactions

Amount Included GST where applicable

Income

$

Sales of Lamb Biryani

         252,000

Sales of Chicken Biryani

         151,200

Sales of Drinks

           88,000

Rental income (Residential Property)

           39,000

Expenses

Purchase of Ingredients (Raw Chicken, Lambs)

           35,000

Spices

           10,000

Cutlery (plates, spoons, forks)

             5,500

Electricity

           19,800

Bookkeeping/Accounting

             6,600

Rental expense (Restaurant)

         110,000

Depreciation expense (Furniture, fit outs)

           31,500

Interest expense

             4,650

Wages (Staffs)

         160,000

Rental Property expenses

Management Fee (Payable to real estate agency)

             2,145

Assume that valid tax invoices are available for all of these transactions, determine how much Net amount of GST which is payable to ATO for this period by Maharaj Pty Ltd. You need to provide short explanation for each components and legislation where its applicable.


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