Question 6 consists of 10 parts worth 2 marks each. Specify each answer in the...

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Question 6 consists of 10 parts worth 2 marks each. Specify each answer in the box provided. As an example, if you think the best answer to a question is A, type the letter A in the box provided. 6.1 Kate is registered for GST. She made a taxable supply and received a sale price of $1,540. What is the value of the taxable supply? A. NII B. $1,540 c$140 D $1,400 Click or tap here to enter text. 6.2 Which of the following statements about the taxation of trading stock is LEAST correct? A. Purchases of trading stock are treated as income for tax purposes B. Confidential documents held by a research company are not trading stock under s70-10 C.For the purposes of s70-35, trading stock should always be valued at cost D. For the purposes of s70-35, the taxpayer can give trading stock a closing value at either cost, market selling value or replacement value Click or tap here to enter text. 6.3 Which of the following statements about GST registered entities is MOST correct: A. They must have annual turnover above the threshold of $75,000 3. They charge GST on taxable importations, if they have any c. They charge GST on their GST-free supplies, if they have any D. They charge GST on their input taxed supplies, if they have any Click or tap here to enter text

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