Question: Please show step by step solution to all calculations. a ) List three methods that exist to calculate a taxpayer s HST liability. b )

Please show step by step solution to all calculations.
a)List three methods that exist to calculate a taxpayers HST liability.
b)Briefly explain the small supplier exemption in HST legislation.
c) During 2022 Magico Inc., a Ontario CCPC, made taxable supplies in Ontario of
$ 18,000,000(excluding HST), incurred taxable purchases of $ 5,000,000 excluding
HST) and incurred expenses on which HST was not payable of $ 800,000. Magico Inc.
also acquired capital equipment at a cost of $ 226,000 including HST.
Required:
Compute Magico Inc.s total HST liability for 2022 using the long form method (show all
detailed calculations).

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