Calculate GST Content From GST Inclusive Price

[Omad]

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.

[drelly]

price MINUS (price/1.15) = GST content

[Omad]

Thanks Drelly, maths was never my strong point.

[J_J]

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.

[Viking]

$100 x 0.85 = $85
85 x 1.1765 = 100.0025
so

[Baldor]

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!

[Viking]

Nope just let the computer do it.

[Wayne]

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

[Puff]

No votes for Wayne as Prime Minister then!!

[Wayne]

No votes for Wayne as Prime Minister then!!

not fair - I was just trying to make things easy for people :-)

[Perry]

No votes for Wayne as Prime Minister then!!

not fair - I was just trying to make things easy for people :-)

That's what all such shysters say!
.

[Puff]

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

[Jumpin]

LOL
nice one

[Perry]

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?
.

[Rosco]

23 is the magic number.

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

Ross