This calculator gives estimates only based on the information you input. It is for illustrative purposes only and is not tax advice. Thresholds, rates and eligibility change and may not apply to your circumstances. Confirm your position with your accountant or registered tax agent before acting on any figure shown.
This is general information only and does not take your circumstances into account.
The three sums and why one of them catches people out
Adding GST multiplies by 1.1. Removing it divides by 1.1. Finding the GST already inside a price divides by 11, not by 10. That is the one people get wrong. On a price of $1,100 the GST is $100, not $110.
When a business has to register
Registration becomes compulsory once turnover reaches the ATO threshold. Below that it is optional. Registering means charging GST and claiming credits on business purchases. The ATO publishes the current threshold and the registration rules.
GST on a financed asset
Where the structure gives the business ownership from the start, such as a chattel mortgage, a GST registered business can generally claim the GST in the purchase price as an input tax credit on its next activity statement, even though the asset is being paid off over years. Under a lease the treatment differs. That single difference is often what decides the structure.
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