Answer to Question #181252 in Economics for Michelle Anne Ikov

Question

A business purchases 10 digital televisions for use in its offices. When the televisions arrive at the workplace the owner of the business decides that one will be taken home. The total cost of the acquisition was $26,500 (GST inclusive). Describe how you would process this to comply with taxation reporting requirements. How much input tax credit could be claimed, what would be the BAS code for the acquisition?

Answer 1

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