Complete business activity and instalment activity statements - Australia

The Good & Services Tax

Foxwedge Pty Ltd operates a small business. Foxwedge Pty Ltd accounts for and reports GST on an accrual basis quarterly. During the June quarter the following transactions occurred.

Required:

Complete the GST Calculation Worksheet for Foxwedge's June quarter BAS.

All amounts include GST where applicable.

Receipts ($)
Sale of goods	201700
Export sales	11750
GST-free sales	5300
Commercial rent received	14500
Sale of printing equipment	21500
Bank interest received	2309
Dividends received	270
Bank loan received	310000
Payments ($)
Salaries and wages	58200
Superannuation	5340
Rent of business premises	14200
General business expenses	33715
Purchase of fax machine	5240
Printing supplies	43370
Interest paid	140
Telephone bill	5460
Drawings	150000
Bank charges	620
Insurance (no stamp duty)	2620

GST Calculation Worksheet for Foxwedge Pty Ltd, June quarter BAS:

• Please help with calculation on below on G11 - G20 only

GST amounts you owe the Tax Office from sales ($)
G1	Total sales (including any GST)	257,059.00
G2	Export sales	11,750.00
G3	Other GST-free sales	5,300.00
G4	Input taxed sales	2,309.00
G5	G2 + G3 + G4	N/A
G6	Total sales subject to GST (G1 minus G5)	N/A
G7	Adjustments (if applicable)	0
G8	Total sales subject to GST after adjustments (G6 + G7)	N/A
G9	GST on sales (G8 divided by eleven)	N/A
GST amounts the Tax Office owes you from purchases ($)
G10	Capital purchases (including any GST)	5,240.00
G11	Non-capital purchases (including any GST)
G12	G10 + G11
G13	Purchases for making input taxed sales
G14	Purchases without GST in the price
G15	Estimated purchases for private use or not income tax deductible
G16	G13 + G14 + G15
G17	Total purchases subject to GST (G12 minus G16)
G18	Adjustments (if applicable)
G19	Total purchases subject to GST after adjustments (G17 + G18)
G20	GST on purchases (G19 divided by eleven)