Question

GST and BAS calculations - taxation for Australia

2 Using the representation of the GST calculation worksheet for BAS, complete the draft far the preparation for the BAS. Figures shown are GST inclusive where applicable. An estimated amount of purchases for private use has been determined to be $25,000 Total sales Expurt sales Input taxed sales Adjustments (sales) Capital purchases 5350,000 $50,000 $10,000 $30,000 $150,000 $10,000 $10,000 Purchases for making input taxed sales GST calculation worksheet for BAS G1 Total sales G1 G1 on the BAS G2 Export sales G2 G2 on the BAS G3 Other GST free sales G3 G3 on the BAS G4 Input taxed sales G4 G5 G2 G3 G4 G5 G Ttal sales subject to GST (G1 G5 G6 G8 Tatal sales subject to GST after adjustments (G6-G7) G9 | GST on sales (G8 divided by eleven G9 A in the section of the BAS G10 Capital purchases G10 G10 on the BAS G11 Non-capital purchases G11 on the BAS G12 G10-G11 G13 Purchases for making input taxed salesG13 G14 Purchases without GST in the price G14 G15 Estimated purchases for private use G16 G13-G14 G15 G16 G17 Tatal purchases subject to GST G12 G16 G18 G19 Tatal purchases subject to GST after G19 adjustments (G17-G18) G20 GST on purchases (G19 divided by 11) G20 1B in the

Answer 1

G1	Total Sales			G1	$350000	G1 on the BAS
G2	Export Sales	G2			$50000	G2 on the BAS
G3	Other GST Free Sales	G3			$0	G3 on the BAS
G4	Input Taxed Sales	G4			$10000
G5	G2+G3+G4			G5	$60000
G6	Total Sales subject to GST(G1-G5)			G6	$290000
G7	Adjustments			G7	$30000
G8	Total Sales subject to GST after adjustments (G6-G7)			G8	$260000
G9	GST on Sales (G8 divided by eleven)			G9	$23636	1A in the summary section of the BAS
G10	Capital purchases	G10			$150000	G10 on the BAS
G11	Non-Capital purchases	G11			$10000	G11 on the BAS
G12	G10+G11			G12	$160000
G13	Purchases for making Input Tax Sales	G13			$10000
G14	Purchases without GST in the price	G14			$0
G15	Estimated purchases for private use	G15			$25000
G16	G13+G14+G15			G16	$35000
G17	Total purchase subject to GST G12-G16			G17	$125000
G18	Adjustments (if applicable)			G18	$0
G19	Total purchases subject to GST after adjustments (G17-G18)			G19	$125000
G20	GST on purchases (G19 divided by 11			G20	$11364	18 in the Summary section of the BAS