Do you know how to calculate GST at 15%?

If you're GST-registered, you'll need to include GST at 15% on your goods and services from 1 October.

Calculating GST at 15 percent is straightforward.  To find out the GST component of a GST-exclusive amount, multiply the GST-exclusive amount by 15 percent.

Example:

Value of goods = $1500
GST at 15 percent = $225
Total price = $1725

To calculate the GST component of a GST-inclusive amount, multiply the GST-inclusive figure by 3, then divide by 23.  This will always give you the right answer.

Using the example above:

Step 1: $1725 x multiplied by 3 is $5175
Step 2: $5175 divided by 23 to find amount of GST = $225