19/07/2024
Lets do some GST MATH not GIRL MATH!
To calculate the GST that is included in a total amount, simply divide the total by 11. Then, if you want to find the total amount not including GST, multiply that figure by 10.
For example: We want to figure out how much GST is included in a product you sell with a sale price of $100.
1. Divide $100 by 11 = $9.09. This is the total amount of GST you would be charging on that sale.
2. Multiply $9.09 x 10 to get the price NET of GST. (Not including GST) which = $90.91.
If you want to get $100 for your product or service, charge GST on top of that price - which makes the total you charge a customer $110.
Simple!