‘Let’s Go Halves’ Means Each Person Pays Half

‘Let's go halves’ means ‘Let's each pay half’. It is informal and natural in everyday Australian conversation; SBS's English teaching also uses it when discussing how to split a bill.

For example, if two people order a meal to share, saying this at payment time proposes dividing the total equally, not calculating what each person ate. If their spending differs considerably, check that both are happy to split it evenly.

Do not translate the Chinese expression ‘AA’ directly as ‘Let's AA’. Go halves clearly means that two people each cover half. In Chinese, ‘AA’ can mean either an equal split or each person paying their own costs, so the meanings do not necessarily match.

https://dictionary.cambridge.org/dictionary/english/go-halves
https://www.sbs.com.au/language/english/en/podcast-episode/98-splitting-the-bill-med/9cnbvlrfn