Calculate GST with this simple New Zealand GST calculator. It can be used as well as reverse Goods and Services calculator. It is easy to calculate GST inclusive and exclusive prices.
What is GST rate in New Zealand?
Current GST rate in New Zealand is 15% for goods and services. Some goods and services are 0% taxable and some goods and services are GST exempt.
New Zealand Goods and Services tax history
In New Zealand the goods and services tax (GST) was introduced on October 1, 1986. It is called Tāke hokohoko in Maori language.
How to calculate New Zealand GST manually
- To calculate New Zealand GST at 15% rate is very easy: just multiple your GST exclusive amount by 0.15.
$300 is GST exclusive value
$300 * 0.15 = $45 GST amount
- To get GST inclusive amount multiply GST exclusive value by 1.15
$300 is GST exclusive value
$300 * 1.15 = $345 GST inclusive amount
- To get GST part of GST inclusive amount you need divide GST inclusive amount by 115 and multiply by 15
$230 is GST inclusive value
($230 / 115) * 15 = $30 GST value
- To get GST exclusive amount while knowing GST inclusive value you need to multiply GST inclusive price by 100 ant then divide result by 115
$230 is GST inclusive value
$230*100=$23000
$23000/ 115 = $200
How do you get to the first amount. Calculate from bottom to top.
First amount : ?
Plus FAF : 11.94%
Plus GST: 5.17
Total : $5.95
Simply times the amount by 0.15 (15%) then add it the net cost
ie 950000 x0.15 = 142500
Gross is the sum of the two
0r 1092500
When a document states “$50,000.00 GST exclusive” what does this mean? Does it mean $50,000 + the 15% GST?
I believe exclusive means calculated without GST, to get the inclusive GST you would need to y x 1.15 = x (For NZ, I wouldn’t be sure for another country). If this helps.
I’m a treasurer for a charity and some of the income from a government department is taxed at 12.3%. The remittance shows the GST inclusive total. How do I work out the GST content for 12.3% please.
Hio Sue:
For starters, you don’t calculate the GST content for 12.3% –
The formula used to determine the GST component of a GST inclusive invoice is as follows:
Example – $500 invoice includes the 15% GST. (i.e. it’s GST inclusive)
1. Take the $500 purchase price and divide it by 1.15 = $434.7826086957 (then rounded down to$434.78)
2. Deduct $434.78 from the $500.00 purchase price
3. The balance of $65.22 is the GST component.
To verify the accuracy of this formula, simply multiply $434.78 by 1.15
Can someone please tell me how I add GST on a GST exclusive fee? For example, what is the GST inclusive fee of 1.14%
You can use this calculator and enter any GST % https://gstcalculator.net/any-gst-calculator/
To work out the 15% GST component on a GST inclusive amount:-
Gross amount, Multiplied by 3, then Divided by 23
will give you the GST content.
e.g. what is the GST component of $20.00 Gross?
20 * 3 / 23 = 2.6086956 The GST component is $2.61 (rounded up).
Gross amount $20.00
Less 15% GST $ 2.61
= Net amount $17.39
To verify, multiply Net amount of $17.39 by 15% GST and add the two together e.g.
17.39 * 15% = 2.6085 GST component
17.39 + 2.61 = 20.00