Re: Austrains site update and GST.

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Article #549

#549

From: James Forrester
Date: Mon, 15 May 2000 00:00

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Alan Bone wrote:
> 
> 
> Post GST
> Wholesale price                 200.00
> GST                                       20.00         = $220.00
> 
> Retailer profit      say 25%                                   55.00
> based on old profit margin as I believe they are allowed to retain the
> same ratio, & not use the less tax price
>                                                         =$275.00
> GST                                                            27.50
> 
>                                         Total                  $302.50
> 

The theory is that the initial $20 GST is a tax-credit that would be
refunded by the government and hence your calculation is $200 + $61
margin (as original) = $261 plus the 10% GST for a total $287.10.

Or at least that's how the blurb from the ATO says it happens.

James

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<39179230.E44DDF71@cia.com.au> <3917A14D.34D395E0@ozemail.com.au> <391bb621$0$31503@news01.syd.optusnet.com.au> <WVVS4.9858$X4.19900@newsfeeds.bigpond.com> <391cbd27$0$31523@news01.syd.optusnet.com.au> <hh4T4.10085$X4.20833@newsfeeds.bigpond.com> <391d3f57.6111426@news.southwest.com.au>

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From: James Forrester <james.forrester@gecms.com.au>
Subject: Re: Austrains site update and GST.
Date: 2000/05/15
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