Income tax calculator
Use this simple, accurate tax calculator to work out how much you will be paid. The calculator has now been updated with rates for the 2016-2017 financial year.
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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 has not yet been legislated. If the Liberal government retain power then this is likely to pass and the tax brackets will change during the current financial year. Given this uncertainly the ATO suggest that last years tax brackets remain in use.
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.
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.