Income Tax Calculator
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| Frequency | Gross Income | Income Tax | Net Income |
|---|---|---|---|
| Annually | 0 | 0 | 0 |
| Monthly | 0 | 0 | 0 |
| Fortnightly | 0 | 0 | 0 |
| Weekly | 0 | 0 | 0 |
What Are The Current Income Tax Brackets?
Aside from the rates mentioned above in the income tax calculator, almost all taxpayers have to pay two per cent for the Medicare levy.
According to the ATO, children who are 17 and below who earn income that does not relate to compensations, estate proceeds, or work, will have a higher tax rate that can go beyond 60%. For parents whose child’s situation applies, it may be helpful to discuss the matter with a tax adviser.
| Income Range | Tax Payable |
|---|---|
| $0 - $18,200 | Nil |
| $18,201 - $45,000 | 16c for each $1 over $18,200 |
| $45,001 - $135,000 | $4,288 plus 30c for each $1 over $45,000 |
| $135,001 - $190,000 | $31,288 plus 37c for each $1 over $135,000 |
| $190,001 and over | $51,638 plus 45c for each $1 over $190,000 |
How is your tax calculated?
If you earn a salary, you can use the calculator. You only have to enter the amount that you receive in the specific box. Most of the time, employers provide salaries annually.
Sometimes, you already know how much you will earn annually, but you have no plans for working with your employer for the whole year. Our calculator can help you determine the right amount of tax that you will pay, both based on your yearly salary and the actual income tax payment at the end of the year.
For you to understand better, here is an example:
It should be noted that your tax will still correspond to your annual earnings. However, your end-of-the-year tax will only be based upon your actual income.
Meanwhile, if you receive wages, our calculator can help compute your income tax as well. You just have to adjust the calculator according to how you get paid, whether weekly, fortnightly or monthly.
As with salaries, the total wage you get for every period can change your tax rate. You will find this calculator useful, especially if you receive extra payments, such as commissions or overtime rates. It becomes easier for you to see how much you truly earn after taxes despite the fluctuations. Your employer may withhold a specific amount for your tax duties. This amount will be calculated on each pay cycle.
Annual salary
Total tax
However, you only have plans for working in that company for five months. Therefore, your actual tax will only be $5,659.17.
See below for the breakdown:
Since you will only work for five months, your real earnings will only be $27,916.67.
The total amount of tax that you should pay will be adjusted to $1,705.
Tax Return Income Tax Calculator Terminologies Defined
How is your income tax calculated?
Any income-earning Australian can use the income tax calculator on this page. You can be a citizen living in the country or overseas. You can also be a backpacker or on a working holiday.
As you may already know, the Australian Tax Office (ATO) is the body of the government that collects income tax. All working Australians should pay their income tax every financial year, which runs from 1 July to 30 June the next year.
Taxable incomes include salary and wages, bank account interest, dividends from investments as well as other types of income, bonuses for employees, and salesperson commissions. Age pensions and youth allowance are also taxable incomes.
Income tax is paid on every form of income, whether you receive work wages, business profits, or returns from your investments. This particular type of tax also involves your assets, including your shares and properties.
Some people have two or more jobs; others have other income sources. If you are one of either case, you should be aware of the tax traps, which may be because of the tax-free threshold. The country has a progressive tax system: those with higher income will have to pay more taxes. However, if your income is $18,200 or lower, you do not have to pay tax (tax-free threshold).
What Information Would You Like to Learn More About?
Tax for Australian Residents
If you’ve ever looked at an Australian income tax table showing thresholds and rates, you’ll know how quickly it can get confusing. Instead of trying to work it out yourself, our tax calculator does the hard part for you.
The calculator makes things easier by estimating the tax on your income — whether you’re paid weekly, fortnightly, monthly, or annually. It also factors in common deductions like tax offsets and salary sacrifice, so you don’t have to. That’s where your Tax File Number (TFN) comes in handy. Make sure you’ve declared it so the right amount of tax is withheld from your pay.
Some deductions don’t apply until after you’ve lodged your tax return for the year, so it’s important to lodge on time if you want to take full advantage.
This calculator is up to date for the 2024–2025 tax year. It gives you a good idea of how much tax should be withheld from your income throughout the year. Just remember, your final tax outcome may still change a little depending on your individual situation.
One thing to be aware of is the Low Income Tax Offset (LITO). It’s not a direct cut to your tax rate — instead, it reduces the amount of tax you owe when you lodge your return. So while you might not notice the benefit in your regular pay, it can mean a bigger refund at tax time.
A Few Terms You Might Come Across:
-
Gross vs net income: Your gross income is what you earn before tax. Net income is what you take home after tax has been taken out.
-
Salary vs wage: A salary is a fixed amount your employer pays regularly. A wage is usually hourly and depends on how many hours you work.
Non-Residents
Non-residents can still earn a solid income in Australia, but they’re subject to different tax rules and thresholds than Australian residents.
This calculator focuses on individual income tax. The tax rates it uses are based on the financial year you select, and your residency status plays a big role in how much tax you’ll pay.
If you’re a foreign resident, you’ll generally pay more tax than Australian residents. One major difference is that non-residents don’t get the tax-free threshold — so even if you earn less than $18,200, you’ll still be taxed from the first dollar.
There’s no part-year tax-free threshold unless you become an Australian resident partway through the year. In that case, you may be entitled to a pro-rata tax-free threshold depending on your arrival and residency status.
If you plan on using the calculator for medical levy and medical levy surcharge, you will not benefit from it. You may also want to look elsewhere if you wish to calculate any of the following:
- Temporary budget repair levy
- First home super saver scheme
- Study and training support loans, such as TSL and SFSS liabilities
Working Holiday
If you’re on a working holiday in Australia, this calculator can help estimate your tax obligations. Like all workers, you’ll pay tax on your earnings and need to lodge a tax return each year based on your total income.
Working holidaymakers are taxed differently from Australian residents. The first $45,000 of your income is taxed at 15%, and anything above that is taxed at resident marginal rates (as of 2024–25). If you hold a subclass 417 or 462 visa, you’re classified as a working holidaymaker for tax purposes.
It’s also worth knowing that many working holidaymakers are entitled to superannuation contributions from their employer. Not all jobs are eligible, but if yours is, your employer must pay super on your behalf — separate from your regular wages.
Want to know exactly how it works and what you’re entitled to?
Read our complete working holiday tax guide for everything you need to know.
Maximise your tax deductions today!
