What Is GST ?

GST refers to (Goods and Services Tax) and it is applicable to all the businesses that are registered for the tax. It is generally added to the price of the goods or services that are being offered to the customers. Businesses charge an extra amount from the customers, so that they can then pay it to the government as GST.

GST In Australia

The Howard Liberal government introduced GST in Australia on July 1, 2000. Australian businesses which have registered for the GST need to pay the tax to the Australian Taxation Office (ATO). The current GST rate applicable in Australia is 10%.

Why Paying GST Is Important?

How Is GST Calculated ?

When it comes to adding GST in amount, it is very easy as we have to multiply the amount by gst percentage and divide by 100.
For Example:
Total Amount is $1000, Gst will be $1000 * (GST percentage/100) = $100.
GST (inclusive) Amount will be $1000 + $100 = $1100.

However, subtracting GST from any Amount is bit tricky.
For Example: If GST(inclusive) Amount is $1000,
GST(exclusive) Amount will be $1000/ (1 + (gstPercent/100)) = $909.09

Who Is Eligible For GST?

You need to register yourself for GST if:

You can simply use GST calculator , as it would provide a more accurate result regarding the overall taxation price.