Alex, Brook, and Charlene each began their own sole proprietorship in a GST province on January 1, 20X4. The following chart summarizes their revenue for the first two years of activity:
Additional information:
• Alex sold a piece of capital property on May 15, 20X6 for $8,000.
• Brook always invoices his work on the 28th day of the month. His sales for each quarter were earned equally over each month of the quarter.
• Charlene is a licensed optometrist; 60% of her revenue consists of eye exams, while the remaining 40% consists of sales of eyeglasses and contact lenses.
Required:
For each individual, determine when small supplier status is lost, the date on which they are each required to be registered for GST, and the date on which each individual should begin charging GST.
Enjoy 24/7 customer support for any queries or concerns you have.
Phone: +1 213 3772458
Email: support@gradeessays.com