Different ways to calculate GST. How to calculate GST.
GST-exclusive amounts and GST-inclusive amounts can be calculated in a number of
different ways, using the guide below can help you easily calculate it yourself:
- GST-exclusive amount × 15% ( or 0.15, or 3/20 ) = GST.
- GST-exclusive amount × 115% ( or 0.15, 23/20 ) = GST-inclusive amount.
- GST-inclusive amount × 3/23 = GST.
- GST-inclusive amount × 20/23 = GST-exclusive amount.
Examples:
You sell goods for $8,000 Plus GST:
- GST: $8,000 × 15% = $1,200
- $8,000 + $1,200 = $9,200
- $8,000 × 115% = $9,200
- $8,000 × 23/20 = $9,200
You sell goods for 10350 including GST:
- GST-inclusive amount:GST: $10,350 × 3/23 = $1,350
- GST-exclusive amount:
- $10,350 – $1,350 = $9,000
- $10,350 × 20/23 = $9,000
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