Part B.
1. Identify the current statutory requirements for tax compliance and list and
calculate the tax liabilities for Houzit Pty Ltd under taxation legislation.

Solution

Part A Item 2. Budget Notes
1. Previous profit and losses
– profits prior year are $851,188 in 2009 and $1,019,499 in 2010
– increase in customer base and the business is built after sales service
2. Problem associated with existing financial management
– Inefficient computer software to produce timely and detailed reports
– Heavily relying on qualitative input instead of quantitative data
analysis
– Inadequate analysis of revenue to produce or informed estimate
3. Assumptions
– inflation 4% per annum
– reduce the expected gross profit by 1% ……………..please follow the link below to purchase all the solutions at $15