The GST is a broad-based tax of 10% on the supply of most goods, services and anything else consumed in Australia. Since Goods and Services Tax was introduced in 2000, thousands of Australians have to calculate the amount of GST to add to the price of goods or services or calculate how much GST is included in the price to claim tax credits for any GST included in the price of goods, services or anything else acquired for use in carrying on the business.
When adding 10% to the price is relatively easy (just multiply the amount by 1.1), reverse GST calculations are quite tricky:
- To figure out how much GST was included in the price you have to divide the price by 11 ($220/11=$20);
- To work out the price without GST you have to divide the amount by 1.1 ($220/1.1=$200)
Sometimes numbers are not so pretty, so why do all this manual work when you can enter the amount into this GST Calculator and get all the calculations at once! Enjoy!
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