Question 310 pts

Part A Goods and Services Tax

The following is a list of transactions for your review. Assume the respective suppliers are GST registered.

i) Purchase, for $15,000, of a photocopier for use in an accounting practice.

ii) Payment of private health insurance premiums of $5,245.

Required

How much GST, if any, for each transaction above? 4 marks

Part B Corporate Tax

The following information is provided by Jurgen Pty Ltd, a resident company. It is a non base rate entity for the income year.

$

16 Dec 2021 Received a 75% franked dividend from a resident base rate entity company. 3,000

17 Dec 2021 Company tax paid 2,300

1 Jun 2022 Paid fully franked dividends 30,000

21 Jun 2022 Franking deficit tax paid ???

Required

Prepare Jurgens Franking Account for the year ended 30 June 2022 assuming the opening credit balance was $440. Show all working. 6 marks

Total 10 marks