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QUESTION 3 - Goods and Services Tax (10 Marks) Teresa owns a farm which produces apples for supply to a large supermarket chain in Sydney.
QUESTION 3 - Goods and Services Tax (10 Marks) Teresa owns a farm which produces apples for supply to a large supermarket chain in Sydney. The gross annual turnover of the farm is $160,000. REQUIRED: Advise the GST consequences in relation to the following transactions that occurred during the period 1 April to 30 June 2024: i. Purchase of 1000 cardboard boxes for packing apples $2,200 ii. Delivery charges for transporting apples to supermarket $4,400 iii. Repairs to fruit picking equipment $1, 100 iv. Sale of 1000 boxes of apples $40,000 v. Staff Wages $20,000 QUESTION 4 - Taxation of Partnerships
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