Australian company (AC) is a registered GST entity that does landscaping and decoration work for outdoors. For

Fantastic news! We've Found the answer you've been seeking!

Question:

Australian company (AC) is a registered GST entity that does landscaping and decoration work for outdoors. For 06/20 they had invoiced for $300000 for projects completed. But 1/6/20 a company they did a project for went bankrupt whilst still having outstanding payment of $33700 due. This was written off

AC also finished a short period contract valued $85000 with a Golf Course being built in Morocco for their dining facilities.

To scope out and know the area better, a senior member of AC is sent to the site on 1 Jun 2019. For this instance, the following costs are incurred:

* return flights from Gold Coast to Darwin $800

* return flights from Darwin to Rabat (capital of Morocco) $7200

* Uber fee from AC Headquarters to Gold Coast airport $50

* Hotel accommodation in Rabat (capital of Morocco) $2600

* Employee allowances for the international travel $850

Other expenses that AC has had

* Wages to staff $45000

*Office rent $15000

* Utilities (electricity, water, sewerage) $1200

* Telephone and NBN internet $900

* Printing ink cartridge $4200

* Tea and coffee for all staff members in the lunch room $200

* Quarterly FBT payments to Australian Taxations Office $2400

* Lease premiums on company car (Toyota Camry) $2350

* Landscape architecture seminar the architecture team staff visited $6200

* Bought dining table and chair sets, and decoration pieces from local store in Australia for $62000

* Bought ergonomic sofa furniture from Bali for $30000 and additional $3250 shipping.

* Bought and imported of a German framed canvas paint for $500 and $20 shipping

* Bought painting from a Jon (not carrying a business) 2 days before end of financial year and had it in closing stock when financial year ended.

Jon is a retired business consultant. He had purchased the painting originally for $615 on 06/04/87, which he had valued by a specialist 1/6/20 at a cost of $365. In end of 2019 financial year (30/6/19) Jon had $500 unapplied cap. loss from prior year.

Include GST for points necessary and relevant and use accruals for GST.

Questions.

1, GST payable or refundable for AC.

2. how much will return to Jon as assessable income.