PARTA Annie Zhang is planning to start a new business and has incorporated a company called Super Wine Exporters Ltd (SWEL). She plans to export premium New Zealand wine to China. She expects her turnover to be less than $60,000 in the first year of operation. Annie seeks your advice on: ( whether she should register for GST; () how regularly she will need to submit her GST returns if she registers for GST, and (iii) the accounting basis she should choose for completing her GST returns once registered Required: Answer the following questions in relation to SWEL. Include reasons for your choices and support your answers with references to the Goods and Services Tax Act 1985. a. Explain to Annie whether she needs to register for GST and the advantage of voluntary registration for GST in her case? I b. What taxable periods can Annie choose from and which one do you recommend she choose and why? C. Which GST accounting basis do you recommend that Annie choose for completing her GST returns and why? PARTB Rebecca Holt started a new business on 3 April 2019. She decides to register for GST on a payment basis, with two-monthly return periods. Rebecca's first GST return is due on 28 June 2019. For the remainder of April and May, Rebecca had the following transactions: Personal funds invested in the business, $50,000 Took bank loan $10,000 Bought equipment for $30,000 and paid cash First months' rent invoice received for $2,000, payment made on 20th May Cash banked from sales in April, $7,500 Wages paid for part-time staff, $1,680. Rebecca's drawings for personal expenses, $1,500 Invoices for business expenses, $550, $240 and $150. Payment due 1 June Cash banked from sales in May, $6850. Interest paid on bank loan $120. I Required: Complete Rebecca's GST return for the two-month period ended 31 May 2019