Glacier Technology Ltd. is a GST-registered Alberta corporat…
Questions
Glаcier Technоlоgy Ltd. is а GST-registered Albertа cоrporation that uses the regular method of accounting for GST. During the current reporting period, Glacier earned $315,000 from taxable domestic technology services, $105,000 from zero-rated services supplied to non-resident customers, and $80,000 from exempt activities. Revenue amounts are stated before GST where applicable. During the same period, Glacier paid $6,800 of GST on purchases used exclusively in its taxable and zero-rated activities and $800 of GST on purchases used exclusively in its exempt activities. Glacier also paid $2,000 of GST on general administrative costs that support all of its activities. The corporation allocates these shared costs based on the proportion of revenue generated by each activity. In addition, Glacier paid $600 of GST on reasonable meals and entertainment expenses incurred in its commercial activities and $3,000 of GST on computer equipment used entirely in its commercial activities. What is Glacier Technology Ltd.'s net GST payable for the reporting period?
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