23 is the magic number.
Inclusive to exclusive  Divide by 23 * 20. so $115 /23*20= $100
Ross
Announcement
Collapse
No announcement yet.
Calculate GST Content From GST Inclusive Price
Collapse
X

Originally posted by Baldor View PostSo 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!
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 soontobe 15% era?
.
Leave a comment:

Thats what all the politicians say eh!!
Like your sense of humour.
Have a great day.
Puff
Leave a comment:

Maybe they should set the GST % to make it nice and easy maths  say 20%, then you could divide by 6?
Leave a comment:

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!
Leave a comment:

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.
Leave a comment:

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.Tags: None
Leave a comment: