Question 1

Which one of the following statements is not true?

Accepted Answer

A)  An enterprise with annual turnover of $75,000 or more must register for GST 
B)  A not-for-profit organisation with an annual turnover of $150,000 must register for GST 
C)  A local government body can carry on an enterprise and so is entitled to register for GST 
D)  An enterprise with an annual turnover of less than $75,000 can choose, if it wishes, to register for GST 
A)  An enterprise with annual turnover of $75,000 or more must register for GST 
B)  A not-for-profit organisation with an annual turnover of $150,000 must register for GST 
C)  A local government body can carry on an enterprise and so is entitled to register for GST 
D)  An enterprise with an annual turnover of less than $75,000 can choose, if it wishes, to register for GST

Question 2

Which of the following statements is not true with respect to the acquisition of vouchers?

Accepted Answer

A)  GST does not apply when the voucher is sold to the customer 
B)  The initial sale of the voucher is considered taxable and so attracts GST 
C)  GST applies when the voucher is redeemed by the holder and the relevant goods or services are sold to the customer 
D)  The special rules regarding vouchers are set out in Division 100 of the GST Act 1999 
A)  GST does not apply when the voucher is sold to the customer 
B)  The initial sale of the voucher is considered taxable and so attracts GST 
C)  GST applies when the voucher is redeemed by the holder and the relevant goods or services are sold to the customer 
D)  The special rules regarding vouchers are set out in Division 100 of the GST Act 1999

Question 3

What is the GST on a taxable importation that has a value of $1,100?

Accepted Answer

A)  $111 
B)  $110 
C)  $100 
D)  Some other amount 
A)  $111 
B)  $110 
C)  $100 
D)  Some other amount

Question 4

Which of the following is not an example of an out of scope supply?

Accepted Answer

A)  A supply of salary and wages 
B)  Superannuation contributions 
C)  Depreciation expenses 
D)  A sale of a motor vehicle which is recorded as a business asset by an entity registered for GST 
A)  A supply of salary and wages 
B)  Superannuation contributions 
C)  Depreciation expenses 
D)  A sale of a motor vehicle which is recorded as a business asset by an entity registered for GST

Question 5

Which one of the following is not a GST-free supply of education?

Accepted Answer

A)  A secondary school course 
B)  A tertiary course 
C)  A Masters or Doctoral course 
D)  Courses undertaken to maintain an individual's professional or trade qualification 
A)  A secondary school course 
B)  A tertiary course 
C)  A Masters or Doctoral course 
D)  Courses undertaken to maintain an individual's professional or trade qualification

Which one of the following statements is not true?

Which of the following statements is not true with respect to the acquisition of vouchers?

What is the GST on a taxable importation that has a value of $1,100?

Which of the following is not an example of an out of scope supply?

Which one of the following is not a GST-free supply of education?

The Australian Taxation System and the Tax Formula

Residency and Source of Income

Assessable Incomeincome Tax

Capital Gains Tax

Fringe Benefits Tax

General Deductions

Specific Deductions Andapplications Ofdeductibility

Capital Allowances

Tax Accounting and Trading Stock

Taxation of Individuals

Taxation of Companies

Taxation of Partnerships, Joint Ventures, Trusts and Superannuation

Ethics, Tax Avoidance and Evasion

Filters

Exam 13: Goods and Services Tax

Which one of the following statements is not true?

Which of the following statements is not true with respect to the acquisition of vouchers?

What is the GST on a taxable importation that has a value of $1,100?

Which of the following is not an example of an out of scope supply?

Which one of the following is not a GST-free supply of education?

The Australian Taxation System and the Tax Formula

Residency and Source of Income

Assessable Incomeincome Tax

Capital Gains Tax

Fringe Benefits Tax

General Deductions

Specific Deductions Andapplications Ofdeductibility

Capital Allowances

Tax Accounting and Trading Stock

Taxation of Individuals

Taxation of Companies

Taxation of Partnerships, Joint Ventures, Trusts and Superannuation

Ethics, Tax Avoidance and Evasion

Filters