BAS stands for business activity statement and is a form that businesses must submit to the Australian Taxation Office (ATO) on a regular basis. One of the key sections of your BAS is Schedule 1, which calculates your gross profit margin and thus determines an important component of your GST calculation. Gross profit margin represents
Australian GST calculator
How to Calculate GST manually?
- To calculate how much GST to add – Multiply by 0.1
- To calculate how much the price was before GST – Divide by 1.1
- To add GST to arrive at a total price – Multiply by 1.1
- To calculate how much GST is included in a price – Divide by 11
Need help lodging your BAS or GST Return?
If you think that it’s easy to file your tax and lodging BAS in Australia, think again. When it comes to filing taxes in Australia, not only is the law complicated but there are also specific requirements for record-keeping and bookkeeping. That’s why you need to hire a professional bookkeeper for tax lodgement since they know
The income tax rates in Australia are progressive, which means that the higher your earnings are, the higher percentage you pay. Same rules apply to construction worker. It is imperative to know the tax deductions that you are eligible for to minimise your tax bill. Let us take a look at some of the common
The Australian Taxation Office (ATO) is issuing this information sheet to make sure Australians are aware of their tax obligations when using cryptocurrency such as Bitcoin. From a taxation perspective, the ATO’s view is that transacting with cryptocurrencies is akin to a barter arrangement, with similar tax consequences. If you are trading in crypto, you’re required to
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