FNCE30001 Lecture Notes - Lecture 2: Cymbopogon, Indirect Tax
21 Nov 2018
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25. 2 lemongrass pty ltd is a small company incorporated in victoria, australia. The company was incorporated in 2005 to manufacture and sell candles. Its sales revenue regularly exceeds ,000 each year. the company sells its candles to a local retailer for . 50 per dozen. It also sells its candles to a retailer in vanuatu as the candles have been very popular there for . 60 per dozen. Lemongrass pty ltd purchased a car for ,000, which it provided to its managing director as she has to do a lot of travelling for work. Cars pty ltd, a large national car retailer with sales revenue in excess of a million dollars per year. Advise lemongrass pty ltd of its gst consequences arising from the above information: sales rev > threshold ,000 (s23-15 of gst act, selling to local retailer . 50 incl. Gst of 50c: selling to retailer in vanuatu . 60 incl.
