41. What is the due date for reporting and payment of the superannuation for Aaron from question 29?

42. a) Briefly explain the Queensland payroll tax system.

b) What is the current rate of payroll tax in Queensland.

43. From 1 July 2018, the procedure for payment of the GST collected on the sale of new residential premises to the ATO has changed.

a) Describe these changes.

b) How should the payment be made?

44. Who can claim Fuel Tax Credits?

45. Jerry has a landscaping business and uses unleaded petrol in his ute and various gardening equipment. For the quarter ended 30 June 2019 he used a total of 273 litres, 182 litres in the ute and the rest in the equipment. How much fuel tax credit can Jerry claim for the June quarter?

46. Petro’s Pastoral Company Ltd runs a dairy farm. It operated a tractor and Four-wheel Drive vehicle which are used only on the property, both of which use diesel fuel. In June 2019, 816 litres of diesel was used, 267 litres in the tractor and the rest in the Four-wheel Drive. How much fuel tax credit can Petro’s Pastoral Company claim? 

47. When is Wine Equalisation Tax paid in Australia and by whom?

48. Valley Vineyards is a wine producer who is registered for GST. They sell bottled wine to The Local Bottle Shop Ltd, a retailer who sells direct to the public. Valley Vineyards is preparing an invoice for $1650.00 (excluding GST) worth of wine. 

a) Who will collect WET and pay it to the ATO?

b) Calculate how much WET and GST should be charged on this sale.

49. When is Luxury Car Tax (LCT) payable?

50. Monty’s Motor Sales is a car dealer who sells new cars. Monty sells a vehicle with a new price of $79,500 including GST.

a) Calculate the LCT to be charged

b) Calculate the GST to be charged

c) Calculate the total selling price of the vehicle

d) If the buyer is registered for GST and uses the vehicle 100% for business purposes what input tax credit will they be able to claim? Explain your answer.

51. For an entity with a turnover of less than $20 million:

a) On what dates are Business Activity Statements (BAS) due to be lodged and paid?

b) What penalties could apply if a BAS or IAS is lodged after the due date?