GOODS AND SERVICE TAX
Goods and service tax refers to as a value added tax. In Australia, GST is levied at a rate of 10% on most of the goods and services sold. This tax is charged on every stage of the transaction but is refunded to everyone present in this chain of transaction except the final consumer. The tax of GST is a consumption based tax that is the person consuming would be the one paying the tax. (G…
Group Assignment – Case Study
Table of Contents
Issue 1- Whether the PSI rules are applicable
Determination of PSI or PSB by applying the PSI tests
Issue 2 : Whether income should be reported using cash basis or accrual basis of accounting
Determination of the suitable method
Issue 3 – Deductibility of Business expenses
Determination of the above issue
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