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AD Pty Ltd is a large company incorporated in Australia. AD is registered for GST purposes. The company sells cranes for $66,000 each (inc GST). Its purchases the cranes from Germany for $40,000 each and the cranes are shipped to AD at an additional cost of $1,000 each. AD also sells cranes to companies in Singapore and Malaysia for $60,000 each. In this case, it does not take delivery of the cranes, but directs the German seller to ship them directly to the Singaporean or Malaysian buyer. Last year, there was a problem with one of the cranes which AD sold to a local Australian company and AD had to provide the buyer with a full refund six months after the purchase. AD also incurred a penalty of $1,100 (inc GST) as it failed to comply with certain regulatory requirements.
Advise AD of its GST consequences arising from the above information.
What is the firms total cost based upon the EOQ calculated above and how many units of safety should the firm hold and what is the firm's re-order point for the item on inventory being evaluated?
Presumptive tax is one way of enforcing compliance with the tax requirements. You are required to define presumptive tax and give examples of situations where presumptive tax is applied
the accounting firm that you work for has a policy of holding conference lunches for its accounting employees to help
Advise Gordon and Pamela about capital gains and income tax consequences and any effect that their son's tax treatment of the payment will have on them. You should discuss possible discounts and exemptions that may be available to them.
Will the school qualify for tax exempt status under Section 501 (c)(3)? Why or why not?
Your managing director asks if you can participate in a seminar that the firm is doing on Tax Efficient Financial Planning. He would like you to send him the various methods clients often use to reduce taxes.
A. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. Inaddition to four dependent children, they have AGI of $65,000 and itemized deduc-tions of $15,000.
problem 1additional factsthe taxpayer exchanges property in 2010 with a fair market value of 5500000 that has a basis
the income tax return may be prepared manually or using the software or some other federal income tax or information
Financial information for Roberts Company at December 31, 2011, and for the year then ended, are presented below.
What is the price of each bond today and if interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now?
Use formula for arc elasticity to evaluate elasticity along this portion of the curve.
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