I'm looking to buy a camera lens on ebay and was wondering as to how much GST I will have to pay. I've read this, but still not quite sure how it works. How can I calculate the amount of GST I will be subjected to?
the lens will be about S$950 and the shipping about S$30
$980 x 7% = $98.60
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I agree, its absolutely right! There is a 7% tax. GST is calculated based on the CIF value of the goods plus all duties payable. It used to be calculated that way but now its item cost only. Shipping cost comes into the GST calculation when goods exceed $1000.