GST Calculator is an online tool where you can add or subtract goods and service tax to any price. Just enter the price in the input box and hit the "Add GST" or "Remove GST" buttons. As a result, you will get the Net price, GST, and Gross price.
GST stands for "Goods and Services Tax". It's an official tax that applies to the sale of almost all goods and services in Australia. The rate of GST is decided by the Australian Government. It is one type of indirect and comprehensive taxation. Also, it is levied on almost all types of products, goods, and services within the boundary of the nation.
Customers indirectly pay GST when they purchase the items. After that, the seller pays the tax amount to the Government. This is the flow of the Australian taxation process.
It was implemented on the 1st of July, 2000. It brought a progressive change to the Australian economy and also replaced the wholesale tax system.
Our GST Calculator takes the current rate(10%) automatically during calculation. Therefore, you don't need to enter it manually.
GST is applied to all the businesses in Australia whether it is profit organizations, non-profit organizations, or self-employed individuals.
In Australia, it's necessary to register GST for businesses having a gross turnaround of about A$75,000 or more. For non-profit organizations, it's A$150,000 per year or more.
Businesses or enterprises include GST on their product selling price. Also, the Australian government allows you to claim tax credits when you buy any GST included goods or services for your business.
It's very simple to calculate GST manually. There are two possibilities that we need to figure out.
Now let's take some examples to understand it.
To add or include GST on $2300, we need to multiply the exclusive amount by "0.1".
GST = $2300 × 0.1 = $230
Net Price = $2300
GST = $230
Gross Price = $2300 + $230 = $2530
To subtract or exclude GST on $4500, we need to divide the inclusive amount by "11". Also, you can directly get the Net price by dividing the inclusive amount by "1.1".
GST = $4500 / 11 = $409.09
Net Price = $4500 / 1.1 = $4090.91
Gross Price = $4500
GST = $409.09
Net Price = $4500 - $409.09 = $4090.91
Our Calculator follows the same process to calculate the Net amount, GST, and Gross amount. If the amount is big then it is not convenient to calculate it manually. So, in that situation, you can use our tool to sort out any big figures.
Using the Goods and Services Tax Calculator you can quickly and accurately include or exclude GST rate from any price.
Let's know how to use it.
Firstly, visit our Online GST Calculator and follow the steps below.
The first step is to enter the price that can be GST included or excluded.
You can see that the second option is to enter the GST rate in percentage. By default, it is set to 10%. But you can change it if you want to calculate GST for other countries.
Simply click on the "Add GST" if you want to include a tax on your price. Similarly, click on the "Subtract GST" to exclude GST(%) from the initial amount.
Finally, you will get the Net Price, GST Price, and Gross Price below. Also, you can click "Reset Calculator" to refresh the calculator and start a new calculation.
There is a dropdown option to change the country. Therefore, you can calculate other countries' GST too. It will take the appropriate country's GST percentage(%) rate automatically when you choose it.
The current standard Goods and Service Tax rate in Australia is 10%. You can check the latest updated rate here: https://www.ato.gov.au/business/gst/.
Note: These rates are taken on January 2020. Please check the latest updated rate from the nation's official government website.
Yes, of course, you can change the GST rate(%). The GST rate field is editable. So, you can enter whatever number you want.
No, there are not any calculation limits or charges to use our tool. It's completely free and you can use it as many times as you want.
Above all discussion was about the GST Calculator. So, use our tool to figure out the GST rates very fast and easily. It will save you time and effort too. Also, it gives 100% accurate results.