paycalculator

Income tax calculator

Use this simple, accurate tax calculator to work out how much you will be paid.
Changes to Australian income tax set out in the 2016 Budget will come into effect on 1 October. The change will effect people earning over $80,000. Read more about the change on the ATO announcement. This calculator will change on the 1 October in accordance with legislation.

Income

$
Hours per week
Weeks per year
Hours per day
Days per week
Days per year
%

2015-2016 Weekly Fortnightly Monthly Annually
Pay $xxx $xxx $xxx $xxx
Taxable Income $xxx $xxx $xxx $xxx
Superannuation $xxx $xxx $xxx $xxx
Total Taxes $xxx $xxx $xxx $xxx
Income Tax $xxx $xxx $xxx $xxx
Medicare1 $xxx $xxx $xxx $xxx
Other taxes and Levies2 $xxx $xxx $xxx $xxx
Tax Offsets3 ($xxx) ($xxx) ($xxx) ($xxx)

Budget 2016

The 2016 Budget contained a proposal to lift the 37% tax bracket from $80,000 to $87,000. However due to the early election, the change was not immediately legislated. Now that the Coalition government has been retain the bill has now passed and the new tax rate will be changed on 1st October 2016. For more information, see the announcement on the ATO site.

PayCalculator - Rob Shearing PayCalculator is also available in the App Store. The app will work on all ios devices including iPad, iPhone and iPod touch and will update every year. For more information follow the link to the App Store to see the new enhanced functionality.


Pay As You Go This calculator now conforms to the Australian Tax Office's Pay As You Go (PAYG) schedules. The 2015 PAYG rates are available from the ATO website in weekly, fortnightly and monthly tax tables.



More information on income tax

Get more information on how tax calculations are performed, including information on the income tax brackets, Medicare levy, superannuation and how your HELP/HECS debt is repaid. There are also links to ATO government sites on the links page.


How many weeks in a year?

This calculator adopts the approximation of 52 weeks per year to convert annual to weekly pay. However, there aren't exactly 52 weeks in a year and if you are being paid weekly or fortnightly there will be some years where there maybe 53 or 27 pay days in a year. The actual year depends on which day of the week you are paid.

The Gregorian calendar is defined as having exactly 20871 weeks in a 400 year cycle, therefore an average year is exactly 52.1775 weeks long and months average 4.348125 weeks. This is defined in the ISO week-numbering year. These "leap-weeks" occur every 5-6 years and "leap-fortnights" occur approximately every 11 years. The ATO's tax tables, and most accounting software use a standard 52 weeks per year calculations. In some years a weekly or fortnightly salary earner may need to pay additional income tax for the additional pay they received. The onus is on the employee to make this request, otherwise the 52 weeks per year calculation is made. Because of this anomaly, most employers who define pay on an annual basis adopt the monthly pay cycle.