TaxCalc now includes HELP/HECS repayments

TaxCalc

Welcome to TaxCalc, the Australian income tax calculator

Australian residents pay different rates of tax to foreign residents. In addition, foreign residents do not pay the Medicare Levy or receive the Low Income Tax Offset (LITO).


To determine your residency status, see the rules on the ATO website

The Higher Education Loan Program (HELP - previously HECS) is a student loan program where the loans are repayed once your income falls within the repayment thresholds.


Also tick this box if you have an SSL, ABSTUDY SSL or TSL loan.

Tax calculator

Calculate your tax and your after tax salary

Enter your taxable income in dollars:

For example, if you earn $50,000 enter in "50000"

 
 

Tax Rates for 2016-2017:

Australian Residents
Tax Rates 2016-2017

Taxable Income

Tax on this income

$0 – $18,200

Nil

$18,201 – $37,000

19c for each $1 over $18,200

$37,001 – $87,000

$3,572 plus 32.5c for each $1 over $37,000

$87,001 – $180,000

$19,822 plus 37c for each $1 over $87,000

Over $180,000

$54,232 plus 45c for each $1 over $180,000

Compulsory superannuation rate: 9.5%

Medicare Levy of 2% applies (not applicable to low income earners).
Budget Repair Levy of 2% on taxable incomes in excess of $180,000.

Non Residents
Tax Rates 2016-2017

Taxable Income

Tax on this income

$0 – $87,000

32.5c for each $1

$87,001 – $180,000

$28,275 plus 37c for each $1 over $87,000

Over $180,000

$62,685 plus 45c for each $1 over $180,000

Compulsory superannuation rate: 9.5%

Budget Repair Levy of 2% on taxable incomes in excess of $180,000.

Summary:


After tax salary
Base income:
$
Tax on income:
$
Medicare Levy:
$
HELP repayments:
$
Budget Repair Levy:
$
Low Income Tax Offset:
$
Total tax:
$
 
Net income:
per annum:
$
per month:
$
per week:
$

Tax cut from previous year:
$
per annum