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Old 22-03-2004, 12:51 PM
JustAMum JustAMum is offline
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GST inclusive or exclusive

Hi,
Can any one help me with understanding what GST inclusive means, and what GST exclusive means?
I've come across it in an SRO Goods statement and would LOVE to understand what they are saying.

I have looked on the governement and SRO sites but cant find any thing that helps me.

It would be so great if someone had an idea.

JAM - confused as ever.
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Old 22-03-2004, 01:26 PM
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ani ani is offline
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Quote:
Originally Posted by JustAMum
Hi,
Can any one help me with understanding what GST inclusive means, and what GST exclusive means?
I've come across it in an SRO Goods statement and would LOVE to understand what they are saying.

I have looked on the governement and SRO sites but cant find any thing that helps me.

It would be so great if someone had an idea.

JAM - confused as ever.
Hi JAM

An example:

an item costs $110 including GST (Cost $100 + 10% GST)

GST inclusive figure is $110
GST exclusive figure is $100

cheers
ani
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Old 22-03-2004, 05:44 PM
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Olly Olly is offline
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To remember it -

Inclusive means includes/in/inside (e.g.inhale = air (GST) in)
Exclusive means out/without (e.g. exhale = air (GST) out)

And you breathe a sigh of relief when the price looks good and it includes GST

Olly
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Old 23-03-2004, 12:18 AM
JustAMum JustAMum is offline
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Ta for that - thats simple enough for my simple brain.

Now residential property is not meant to include GST if it is not a 'new' property.

Is that correct?

JAM
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