Is this right or wrong, I’m not sure if that’s correct or is there a background calculation I’m not aware of
Hi APE9 , the published GST rate is always shown as a percentage of the exclusive/net price. So in Australia for a GST rate of 10% (or 1/10th) of the net price, that is the same as 9.09% (or 1/11th) of the inclusive price.
Ah I see yes that makes sense thank you
Hey APE9 !
Mike_James beat us to it and absolutely nailed it! The GST is always calculated on the GST-exclusive price. So, to calculate the GST on a GST-inclusive price, 9.09% will show the GST accurately.
Moneysmart also has a handy GST calculator if you ever need help calculating your prices and GST:
If anything is still fuzzy, just holler! 📢
Hi APE9 , the published GST rate is always shown as a percentage of the exclusive/net price. So in Australia for a GST rate of 10% (or 1/10th) of the net price, that is the same as 9.09% (or 1/11th) of the inclusive price.
