Determining the GST consequences in given problem

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Reference no: EM131830660

Question: Lemongrass Pty Ltd is a small company incorporated in Victoria, Australia. The company was incorporated in 2005 to manufacture and sell candles. Its sales revenue regularly exceeds $100,000 each year. The company sells its candles to a local retailer for $5.50 per dozen. It also sells its candles to a retailer in Vanuatu as the candles have been very popular there for $6.60 per dozen. On 1 January of the current year, Lemongrass Pty Ltd purchased a car for $22,000, which it provided to its managing director as she has to do a lot of travelling for work. The car was purchased from Big Cars Pty Ltd, a large national car retailer with sales revenue in excess of a million dollars per year. Advise Lemongrass Pty Ltd of its GST consequences arising from the above information.

Reference no: EM131830660

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