GST and Capital Gain Tax in Australia

This report discusses the application of GST and capital gain tax in Australia. It includes a case study of Sky Company Ltd and computation of capital gain tax on various assets. The report explains when GST is required to be paid and the entitlements of input tax credit. It also discusses the concept of capital assets and capital gain tax liability. The report includes a detailed computation of capital gain tax on the sale of a block of land, grand piano, stamps, and shares. The net capital gain earned by the company for the year 2015 is also calculated.