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Calculate GST Content From GST Inclusive Price

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  • Calculate GST Content From GST Inclusive Price

    With the GST changing to 15% how do I calculate the GST content from the GST inclusive price?

    With GST at 12.5% you could just divide the total amount by 9. So what now?

    Cheers.

  • #2
    price MINUS (price/1.15) = GST content
    Last edited by drelly; 04-06-2010, 04:09 PM.
    You can find me at: Energise Web Design

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    • #3
      Thanks Drelly, maths was never my strong point.

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      • #4
        Using the old methodology of just diving by a whole number is not as clean any more.

        The new number is 7.66666666666666666666666666666666666666666667

        So there will always be a rounding error.

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        • #5
          $100 x 0.85 = $85
          85 x 1.1765 = 100.0025
          so

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          • #6
            3/23 (used to be 1/9)

            So if the price is $115 then
            multiply by 3 to get $345 then
            divide by 23 to get
            the GST component of $15

            So convenient!

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            • #7
              Nope just let the computer do it.

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              • #8
                Maybe they should set the GST % to make it nice and easy maths - say 20%, then you could divide by 6?

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                • #9
                  No votes for Wayne as Prime Minister then!!
                  To Sell or Buy Investment Property contact us. 0800 NZ PROPERTY or 021 402990
                  www.propertyventures.co.nz
                  *New* Check out our weekly free property show http://propertyventures.co.nz/podcast

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                  • #10
                    Originally posted by Puff View Post
                    No votes for Wayne as Prime Minister then!!
                    not fair - I was just trying to make things easy for people :-)

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                    • #11
                      Originally posted by Puff
                      No votes for Wayne as Prime Minister then!!
                      Originally posted by Wayne
                      not fair - I was just trying to make things easy for people :-)
                      That's what all such shysters say!
                      .
                      Last edited by Perry; 09-06-2010, 04:00 PM. Reason: added quoted text
                      Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                      • #12
                        Thats what all the politicians say eh!!
                        Like your sense of humour.
                        Have a great day.
                        Puff
                        To Sell or Buy Investment Property contact us. 0800 NZ PROPERTY or 021 402990
                        www.propertyventures.co.nz
                        *New* Check out our weekly free property show http://propertyventures.co.nz/podcast

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                        • #13
                          LOL
                          nice one

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                          • #14
                            Originally posted by Baldor View Post
                            So if the price is $115 then
                            multiply by 3 to get $345 then
                            divide by 23 to get
                            the GST component of $15

                            So convenient!
                            Right. Next!

                            Divide by 9 and multiply by 8
                            was how the exclusive price
                            was calculated from the incl-
                            usive price. So, Baldor, what's
                            the equivalent new maths for
                            the soon-to-be 15% era?
                            .
                            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                            • #15
                              23 is the magic number.

                              Inclusive to exclusive - Divide by 23 * 20. so $115 /23*20= $100

                              Ross
                              Book a free chat here
                              Ross Barnett - Property Accountant

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