Australian Income Tax Pay Calculator

Use the pay calculator below to find out exactly how much income tax you’ll pay.

Ask yourself something…

Why are you calculating your pay? There are probably lot’s of different reasons – you’re doing a personal budget, looking at how much more you’ll earn from that next pay rise, researching how much you need to earn to afford that new home, the list goes on.

If you’re interested in helping yourself achieve your goals, no matter what they are, subscribe to our newsletter and we’ll keep you in the loop on any new articles we post. Check out the blog here – you might find something that helps!

 

How does it work?

This simple pay calculator uses the individual income tax rates provided by the ATO. Just enter in your income and the calculator will work out how much tax you should be paying. There are a number of different options to select, depending on your circumstances:

  • Superannuation – if your salary amount includes super, tick this box so super is deducted from your gross income.
  • Non-residents are taxed a bit differently, so tick this if you fall into this category.
  • Exclude tax-free threshold – you’re only allowed to claim the tax-free threshold from one employer, so for example if you are working out the numbers for a second job, tick this.
  • HELP debt or Student Supplement Scheme – if you are paying either of these, tick the box to include these payments into the calculation.

What do the numbers mean?

Let’s run though what information the pay calculator shows you:

  • Gross income is basically how much you get paid, before any taxes or levies. If you earn $50,000 per year, this would be considered your gross income. Gross income doesn’t include superannuation, which is paid additional to your income.
  • Superannuation is money that helps people save for retirement. It must be paid by all employers unless the employee earns less than $450 (before tax) per month or is under 18 years old and works less than 30 hours per week. The current minimum super contribution is 9.5% of the employee’s gross salary.
  • Income tax is tax that must be paid out of your gross salary. A complete summary of all tax rates for the 2015-2016 financial year can be found here.
  • Medicare – taxpayers assist in funding Medicare by paying a levy of 2% of their taxable income (income testing applies). Your total Medicare Levy contribution is shown on this line.
  • Other taxes and levies summarises the total of additional payments you need to make, such as HELP payments.
  • Tax offsets – the low income tax offset reduces tax payable for people earning less than $67,000 per year.

Is the pay calculator accurate?

We’ve tried to make it as accurate as possible, but please note that there may be some inaccuracies, so all figures and results generated by the pay calculator must only be viewed as estimates.

Where do the tax rates come from?

All of the data is from the ATO website – have a look here for a summary of all 2017 tax rates.