Question
Miss Daisy Lilly Rose runs a florist which sells a variety of specialised plants and housewares. For the quarter ended 30 June 2020 Miss Rose
Miss Daisy Lilly Rose runs a florist which sells a variety of specialised plants and housewares.
For the quarter ended 30 June 2020 Miss Rose has the following sales (inclusive of GST):
$
Sales of flowers and plants 154,000
Sales of housewares 8,900
Expenses (exclusive of GST)
Purchase of fresh flowers 33,300
Purchase of housewares 21,500
Purchase of new computer for the business 5,400
Wages to part-time staff 7,000
Interest on loan used to purchase new computer 390
Telephone expenses 1,500
Required:
Calculate Miss Roses GST payable or refundable for the quarter. Miss Rose also had a commercial property from which she received rent of $10,000, exclusive of GST and paid management fees of $1,100 and repairs of $550, both of which included GST for the quarter.
Answer must be done using Australia Tax law standards.
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