Question

Birdman Electrical is completing the September Business Activity Statement (BAS) and have provided the following information:...

Birdman Electrical is completing the September Business Activity Statement (BAS) and have provided the following information:

PAYG tax withheld $ = 3,279

Total Sales including GST   $ = 56,297

PAYG income tax instalment   $ = 2,912

Total salary and wages        $ =14,787

GST on purchases      $ =2,819

Calculate the amount payable to the Tax Office for September 2019 (round to the nearest dollar)

Business   Accounting   
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Homework Answers

Answer #1

To calculate the amount payable to the tax office, we need to calculate the amount Birdman electrical owes to the tax office:

To calculate the gst on sales we need to divide the total sales including gst by 11 to separate the gst from sales.

Gst on sales = Total sales including gst/11 = $56,297/11 = $5,118

All other required figures are given in the above information which are as follows

PAYG tax withheld = $3,279

PAYG income tax installment = $2,912

Gst on purchases = $2,819

To calculate the amount payable to the tax office, following formula is given in the australian tax form provided by the government so we will calculate on that basis.

Amount payable = Gst on sales + PAYG tax withheld + PAYG income tax installment - Gst on purchases

Amount payable = $( 5118+3279=2912-2819) = $8490

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