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Payment Summary Inspiring Minds/tutorialoutletdotcom

FOR MORE CLASSES VISIT www.tutorialoutlet.com Troy and Jenny (both Australian residents) have a takeaway coffee outlet in Brisbane city. They are carrying on the GST-registered business together in a partnership using the accruals basis to account for income tax and the non-cash basis for GST. Under the partnership agreement, Troy receives an annual salary of $70,000 as he is actively running the business and Jenny receives interest on capital contribution of $10,000

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