Q3.2 5 Points Ashok, an Uber driver who delivers meals packages for HHT wishes to order one of the above- mentioned premium meals package for himself. An arrangement was entered into whereby HHT did not require Ashok to make $550 upfront payment (which includes $50 GST) Instead, it was agreed that the $550 value of the meals package will be offset against the $550 delivery fees (which includes $50 GST) HHT owed Ashok. Advise the tax implications for BOTH HHT and Ashok arising from arrangement for the income year ended 30 June 2021. If you need more facts, be sure to indicate those that are needed and consider the potential tax consequences if those facts apply. Enter your answer here Q3 There are 2 parts to Question 3 each worth 5 marks. Total = 10 marks 10 Points Healthy Happy Tummy (HHT) sells freshly made, gluten free pre-cooked meals for delivery to homes across Sydney suburbs. Its business is registered for GST. Q3.1 5 Points During the month of June 2021, HHT ran an online promotion which offered a 30% discount to customers who purchased their premium meals package for a period of 3 months which must be paid upfront. Each 3- month premium meals package costs $550 (which includes $50 GST) after the discount. The terms and conditions on HHT's website state that all promotional offers are not cancellable or refundable. By 30 June 2021, HHT received 100 orders and upfront payments totalling $55,000 (which included $5,000 GST). Advise the tax implications for HHT arising from the receipt of the upfront payments for the income year ended 30 June 2021. If you need more facts, be sure to indicate those that are needed and consider the potential tax consequences if those facts apply. Enter your answer here Q3.2 5 Points Ashok, an Uber driver who delivers meals packages for HHT wishes to order one of the above- mentioned premium meals package for himself. An arrangement was entered into whereby HHT did not require Ashok to make $550 upfront payment (which includes $50 GST) Instead, it was agreed that the $550 value of the meals package will be offset against the $550 delivery fees (which includes $50 GST) HHT owed Ashok. Advise the tax implications for BOTH HHT and Ashok arising from arrangement for the income year ended 30 June 2021. If you need more facts, be sure to indicate those that are needed and consider the potential tax consequences if those facts apply. Enter your answer here Q3 There are 2 parts to Question 3 each worth 5 marks. Total = 10 marks 10 Points Healthy Happy Tummy (HHT) sells freshly made, gluten free pre-cooked meals for delivery to homes across Sydney suburbs. Its business is registered for GST. Q3.1 5 Points During the month of June 2021, HHT ran an online promotion which offered a 30% discount to customers who purchased their premium meals package for a period of 3 months which must be paid upfront. Each 3- month premium meals package costs $550 (which includes $50 GST) after the discount. The terms and conditions on HHT's website state that all promotional offers are not cancellable or refundable. By 30 June 2021, HHT received 100 orders and upfront payments totalling $55,000 (which included $5,000 GST). Advise the tax implications for HHT arising from the receipt of the upfront payments for the income year ended 30 June 2021. If you need more facts, be sure to indicate those that are needed and consider the potential tax consequences if those facts apply. Enter your answer here
