pay

calculator

Your Salary:

per year

INCOME

Enter your salary, adjust the settings and see the results in the summary below.

Enter how much you earn per year

Super Guarantee of $6,900 is paid on top of your $60,000 annual salary

HELP (HECS), VSL, TSL, SSL, SFSS

EXTRA SETTINGS

Use these features to customise the calculations to your circumstances. The highlighted sections indicate that an adjustment has been made.

Superannuation

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Superannuation is money set aside by your employers for your retirement. It is also possible to add money into your Super savings and this can change your income tax.

$23,100 concessional Super remaining ($30,000 cap)

Employer pays Super Guarantee on all your income

Sole traders aren't obliged to pay Superannuation

Reportable Superannuation contributions

After tax personal contributions

Unused contributions carried forward from previous years will increase your concessional cap. Limits apply

Check your eligibility for the tax offset

Novated Lease

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A novated lease allows you to lease a car through your employer, reducing your taxable income and potentially saving on taxes.

Before tax payments

Fringe Benefits

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Your employer may provide non-cash benefits in addition to your wage. The value of these benefits is not included as taxable income as your employer pays tax on these benefits.

Reportable Fringe Benefits Amount

This figure is used in the calculation of your Adjusted Taxable Income (ATI) which is used for Government benefits and obligations including Student Loan repayments. This figure will be included on your income statement.

Your Annual Taxable Income is $60,000

Tax category

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Non-residents and Working Holiday Makers have different tax rates applied to their wages. In addition, second jobs are tax differently as the tax-free threshold does not apply.

Check if you're a non resident for tax purposes

Visa 417, 462 (Backpacker)

Apply for tax on a second job

Medicare & Senior offset

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Medicare is a levy on income and funds the public health system. It's set at 2% but some circumstances the amount can vary. Tax offsets are also available for senior Australians.

You are below the Medicare surcharge threshold

Check your eligibility

Family Tax Benefit

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Family Tax benefits (FTB) are accessible to some famillies with children. To estimate your Family Tax Benefit, provide the required information in this section. The amount you recieve depends on the number of children you have and your total houseold income. Additionally, if you shared care responsibilities for a child, your payment may be vary.

Eligible children must be in full time education and immunised.

You are a single parent

The Maintence Income Test is used if your houshold recieves any child support or spousal maintenance. Don't include if you are exempt from the maintenance test

Annual child support/maintenance

No Family Tax Benefit payment

Deductions & Other Income

Edit

You can claim deductions for some expenses you incur by reducing your taxable income. Other sources of income will increase your tax liabilities.

Total eligible tax deductions

Salary Sacrifice arrangements other than super

Annual reportable Capital Gains

Allowance income is a non taxable fringe benefit on top of your income. Check types of allowances

Small business or sole-trader income

Business income loss from this year or carried over

Check types of other income

Franking tax offsets from dividends

Other tax offsets or credits

Options include:

Casual hours

Annual Pay Calculation

52 weeks/year 26 fortnights/year

INCOME TAX

Australian income is levied at progressive tax rates. Tax bracket start at 0%, known as the tax-free rate, and increases progressively up to 45% for incomes over $180,000. In addition to income tax, there are additional levies such as Medicare. Individuals on incomes below $18,200 are also entitled to the Low and Middle Income Tax Offset (LMITO). Tax rates vary depending on residential status.
Use the table below to see how the current tax rates are calculated.

INFLATION CALCULATOR

The drivers of the economy are great and varied, however a useful measure of how the economy affects living standards is inflation, and specifically the consumer price index. Economic inflation has an effect on the cost of living such that when inflation increases the cost of consumer goods and services also increases. In order to balance income with living costs, income also needs to change to absorb any rise. Inflation data has been sourced from RBA Economic outlook and historic CPI Inflation. By comparison, the Wage Price Index is included in order to approximate the apparent difference between wages and cost of living.

Use this calculator to see the impact of inflation on your pay in real terms. Input the date of your last pay rise, and find out how your salary has been affected by inflation.

INCOME RANGE

This chart shows how your income compares to that of other Australians. The data presented in this chart is derived from the ATO percentile distribution dataset. The graph illustrates the changes in incomes over a decade and provids an interesting perspective on the personal income landscape in Australia. The percentile range divides the population into 100 equally sized groups based on income, and additionally segmenting each percentile by gender ratio.

STUDENT LOANS

Repayment thresholds and rates for all student loans including HELP, HECS, VET, SSL, ABSTUDY, TSL and SFSS are updated annually. Since July 2019 all types of student loan and the Student Financial Supplement Scheme (SFSS) have been consolidated under the same repayment threshold. Use the chart below to see how your salary effects you loan repayments. Refer to the ATO for a table of thresholds and rates.

Student loans undergo annual indexing to preserve their value relative to the consumer price index. Normally, this indexing rate is around 2%; however, in 2023, it increased to 7.1%. Refer to the current indexation rates to see how these rates are applied. Additionally, repayment thresholds are also adjusted to align with inflation.

STUDENT LOAN REPAYMENT CALCULATOR

Use this tool to calculate how long it will take to repay your loan. Input your current loan amount as it is today.

CHILD CARE SUBSIDY

The Child Care Subsidy (CCS) is accessible to eligible parents based on their income level and the number of children under their care, subject to specific eligibility conditions. Payments under the subsidy are directly made to the child care provider.

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