Question: Question 2 (5 points) Red Trucks Pty Lid is a GST registered property developer. It purchased a parcel of land back in 1997 for $150,000.

Question 2 (5 points) Red Trucks Pty Lid is a GST registered property developer. It purchased a parcel of land back in 1997 for $150,000. The land was sold in January CY for $2,360,000 Red Truck Pty Ltd obtained a professional valuation of the land on the day that GST was introduced into Australia. The valuation valued the land at $680,000 REQUIRED: Calculate the GST applicable to the sale of the land using both the consideration and valuation method [Question 2 - 5 marks]DAYS OF THE YEAR TABLE July August September October November December To To From From To From To From From 30 Jun 01-Jul 30 Jun 01-Ju 80 Jun 01-Jut 30-Jun 01-Ju 365 334 "32 308 212 124 353 33 302 272 125 211 155 363 301 240 210 1331 300 209 2157 361 #330 299 238 128 208 158 360 298 207 159 359 328 38 297 236 130 206 160 358 327 296 131 205 1611 357 326 40 295 101 234 132 1621 356 294 233 133 203 163 134 202 12 135 12 201 165 291 136 13 137 167 139 1691 195 194 193 288288 2 8 8 NNNNNNNER 122 213 March May aJune January February To From From To From To 30-Jun 01-Jul 30-Jun 01-Jul -Jun 01-Jul 30-Jun ot-Ju 30-Jun 30-Jun 01-Jul 244 1275 61 305 30 336 245 306 180 186 187 218 246 277 307 28 338 179 SaGUNNE 278 308 178 248 279 309 28 310 341 190 8988288988895 281 311 to co - ID UL 287 312 343 192 252 28 313 253 284 52 314 285 255 286 347 287 317 348 918 319 350 320 321

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