Hi,
My company is in construction industry. We are billing a project owner for $100,000 with 10% retention. We are not sure how much our CTR and GST liability are.
Can you please advise that if our gst liability is 10,000 (10%*100,000) and out assessable income is $100,000, or
if our gst liability is 9,000 (10%*90,000) and out assessable income is $90,000?
Thanks!
Hi @WilliamHu,
Firstly, work out how much you're going to charge your client for the job, then add GST to obtain the total cost.
I'm not sure what CTR is an acronym for.
There's an awesome Australian GST calculator on the moneysmart website. This'll help you to calculate GST.
Hi @WilliamHu,
Firstly, work out how much you're going to charge your client for the job, then add GST to obtain the total cost.
I'm not sure what CTR is an acronym for.
There's an awesome Australian GST calculator on the moneysmart website. This'll help you to calculate GST.
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