Friday, August 13, 2010
Calculating GST after 1st October
We have had it really easy, current GST is 12.5% = 1/8. Add GST to $80 and you have $90. Divide by 9 and you get the $10 GST component. You can also multiply the $90 by 0.8888888 to get the $80 GST-free part but only geeks do that.
From 1 October it's going to be 15%. Your $80 x 1.15 = $92.
You can't divide by any whole number to get the $12 GST component. Divide by 7.6666667 to get the $12 GST component. Multiply the $92 by 0.8695652 to get the original $80 GST-free part, or divide by 1.15.
From 1 October it's going to be 15%. Your $80 x 1.15 = $92.
You can't divide by any whole number to get the $12 GST component. Divide by 7.6666667 to get the $12 GST component. Multiply the $92 by 0.8695652 to get the original $80 GST-free part, or divide by 1.15.
# posted by Doug @ 1:05 PM 
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It's easy in Oz, only 10%, I don't even need a calculator. The only difficult part here is that it is not charged on goods that are neccessities. So part of our supermarket bill is GST free!
Love the photo, Poor cat!
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Love the photo, Poor cat!
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