Discuss whether GST would apply to the following supplies (you may assume that the supplies are made by an entity located in Australia and registered for GST purposes and that the supplies are made for consideration in the course or furtherance of an enterprise). 1. The sale of fruit by a grocer 2. The loan of a video by a video store 3. The sale of books by a newsagent 4. The sale of shares in a company 5. The supply of a meal at a restaurant 6. The provision of audit services by an accounting firm 7. The opening of a bank account 8. The provision of advice by a bank regarding a loan 9. The export of raw minerals by a mining company 10. The sale of a new residential home by a builder
Discuss whether GST would apply to the following supplies (you may assume that the supplies are made by an entity located in Australia and registered for GST purposes and that the supplies are made for consideration in the course or furtherance of an enterprise). 1. The sale of fruit by a grocer 2. The loan of a video by a video store 3. The sale of books by a newsagent 4. The sale of shares in a company 5. The supply of a meal at a restaurant 6. The provision of audit services by an accounting firm 7. The opening of a bank account 8. The provision of advice by a bank regarding a loan 9. The export of raw minerals by a mining company 10. The sale of a new residential home by a builder
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
Discuss whether GST would apply to the following supplies (you may assume that
the supplies are made by an entity located in Australia and registered for GST
purposes and that the supplies are made for consideration in the course or
furtherance of an enterprise).
1. The sale of fruit by a grocer
2. The loan of a video by a video store
3. The sale of books by a newsagent
4. The sale of shares in a company
5. The supply of a meal at a restaurant
6. The provision of audit services by an accounting firm
7. The opening of a bank account
8. The provision of advice by a bank regarding a loan
9. The export of raw minerals by a mining company
10. The sale of a new residential home by a builder
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