TaxCalc will be updated on budget night 12th May, 2015

TaxCalc

Welcome to TaxCalc, the Australian income tax calculator
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 2014-2015:

Tax Rates 2014-2015

Taxable Income

Tax on this income

$0 – $18,200

Nil

$18,201 – $37,000

19c for each $1 over $18,200

$37,001 – $80,000

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

$80,001 – $180,000

$17,547 plus 37c for each $1 over $80,000

Over $180,000

$54,547 plus 45c for each $1 over $180,000

Compulsory superannuation rate: 9.5%


Medicare Levy increased from 1.5% to 2% (not applicable to low income earners).
Budget Repair Levy of 2% introduced on taxable incomes in excess of $180,000

Summary:


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

Tax cut from previous year:
$
per annum