Income Tax Calculator

Calculate how much tax you should be paying with our income tax calculator. With just your annual gross income, find out how much tax you owe, along with your after-tax income.

What is income tax?

Income tax is a mandatory payment to the government based on an individual’s or a company’s earnings. This income could come from various sources, such as employment, business or investments. The rules and regulations governing taxation or the amount that needs to be paid depend on the country’s laws.

The amount of tax payable depends on several factors, your total income and taxable deductions, your residency status, whether you’re single or married and the applicable tax offsets and credits. In Australia, income tax is overseen by the Australian Taxation Office (ATO), which updates tax rates and rules each financial year.

What would you count as taxable income?

You are generally required to pay tax when you earn income from sources such as employment, pensions and grants, investments and businesses, government payments or trust income. The total taxable income is calculated after accounting for deductions, such as work-related expenses, donations, and superannuation contributions.

For more information on income tax inclusions and attributes, visit the Australian Tax Office.

How does the income tax calculator work?

With the income tax calculator, you can get an accurate estimate of your income tax and net income. You need to first provide your details, enter your annual gross income and select whether you are subject to the 2% medical levy, usually applicable to most Australian residents. Once the details are provided, your results will be out in seconds. The calculator will display the tax you owe in the given financial year and the year before for comparison. The net income after tax is shown annually, monthly and weekly, along with a breakdown of differences in income and tax.