If I have $1700.00 how much of that total is G.S.T?
not 1700.00 + gst
____ + _____ gst = 1700.00
how do I get that answer Please
Thank you Darlene
the answer depends on wether the price also includes PST. I will use a different amount in the example below, but you can easily adjust it to fit your own figures:
If you only have G.S.T, which is 7%, then you would calculate the price after taxes by multiplying by 1.07. So a $200 item would cost 1.07 x $200 = $214 after G.S.T. To calculate how much G.S.T. was paid on a $214 item, simply reverse the calculation by dividing by 1.07, as $214/1.07=$200. The total GST paid on this $214 item was hence $14.
This changes if you have both PST and GST. In Saskatchewan, PST is 6%, so the total tax on an item is 13%. A $189.38 item would also cost $214 after PST and GST. (multiply by 1.13)
How much was the GST on this $214 item? First, calculate the original price of the item by dividing by 1.13 (the total tax), to get back $189.38. Now calculate the 7% tax on that price, to get $13.26. Hence on this $214 item (same price as above!), the GST was $13.26.
I hope this helps,