DiMarco Enterprises Pty Ltd $($DME$)$ is a family$-$owned company that has operated in the ACT for over $60$ years. DME currently operates the following businesses:

$$ Fresh food $($fruit & vegetables$)$ wholesaling business in Fyshwick;

$$ Property Development Business building and selling new homes around the

ACT region;

$$ Home Loans business $$ providing home loans to buyers of new homes sold

by DME.

For the month ended $30$ September $2023,$ DME made the following supplies to

customers and tenants $($including GST where applicable$)$:

Sales $$ Fresh Food $-$ $$550,000$

Sales $$ New Residential Property $-$ $$4,400,000$

Home loans $$ Residential Property $-$ $$660,000$

DME purchased new computer equipment from JB Hi Fi during the month for the

GST inclusive price of $$22,000.$ The computer equipment is used in the DME Head

Office that manages all of the DME businesses.

Assume DME is registered for GST$.$

Required:

Using legislation, case law and IRAC problem$-$solving technique, fully explain the

GST consequences of the above.

Ensure you explanation includes a consideration of whether any of the supplies that

DME makes are taxable supplies $($and if not, why not$),$ and whether DME makes any creditable acquisitions.

$($Do not consider the financial acquisitions threshold$)$

Answer rating: 100% (QA)

To analyze the GST consequences for DiMarco Enterprises Pty Ltd DME based on the provided information well employ the IRAC Issue Rule Application Conc... View the full answer