GST Calculator

The GST calculator is designed to add or remove the Goods and Services Tax (%) to or from the given amount in Australia.

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How to Use the GST Calculator?

  1. First, enter the price for that you need to include or exclude GST.
  2. The GST rate (%) is already set to '10%'. You can change it if needed.
  3. Now press the '+ Add GST' button to include GST on a given price. Similarly, press the '- Remove GST' button to exclude GST on a given price.
  4. As a result, the tool shows the Net Price, GST amount, and Gross Price.
  5. Also, the tool allows you to calculate the GST for other countries. To change the country, use the dropdown and the tool will automatically take the appropriate country's GST rate.

What is GST?

The Goods and Services Tax (GST) is an official tax that applies to most goods and services that are sold or consumed in Australia. However, some items are GST-free. Such as healthcare, educational services, and basic food items.

How much GST is Charged in Australia?

The current standard GST rate in Australia is 10%.

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.

GST for Businesses

The GST is applied to all the businesses in Australia whether it's profit organizations, non-profit organizations, or self-employed individuals.

In Australia, it's necessary to register GST for businesses having a gross turnaround is $75,000 or more. And for non-profit organizations, it's $150,000 or more.

Businesses or enterprises can claim tax credits for the GST included in the price of business purchases. It helps offset the GST that has to be remitted to the Australian Taxation Office (ATO).

How is GST Calculated in Australia?

There are two possibilities to calculate GST.

  1. Add GST
  2. Remove GST

Let's take an example of adding GST.

Example:

Suppose, the GST excluded price is $2300. Find out how much GST needs to be added to an initial price.

Solution:

To add or include GST on $2300, multiply the initial price by 0.1.

GST = $2300 × 0.1 = $230

So,

Net Price = $2300,
GST = $230,
Gross Price = $2300 + $230 = $2530.

Let's take an example of removing GST.

Example:

Find out how much GST is included in $4500.

Solution:

To remove or exclude GST from $4500, divide the GST-included price by 11. Also, you can directly get the Net Price by dividing the gross amount by 1.1.

GST = $4500 / 11 = $409.09

Net Price = $4500 / 1.1 = $4090.91

So,

Gross Price = $4500,
GST = $409.09,
Net Price = $4500 - $409.09 = $4090.91.