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 2011-2012:

Australian Residents
Tax Rates 2011-2012

Taxable Income

Tax on this income

$0 – $6,000

Nil

$6,001 – $37,000

15c for each $1 over $6,000

$37,001 – $80,000

$4,650 plus 30c for each $1 over $37,000

$80,001 – $180,000

$17,550 plus 37c for each $1 over $80,000

Over $180,000

$54,550 plus 45c for each $1 over $180,000

Compulsory superannuation rate: 9.0%

Medicare Levy of 1.5% applies (low income earners excepted).
A flood levy of 0.5% will be applied on taxable income between $50,001 and $100,000 and 1% will be applied on that part of the taxpayer’s taxable income above $100,000.

Non Residents
Tax Rates 2011-2012

Taxable Income

Tax on this income

$0 – $37,000

29c for each $1

$37,001 – $80,000

$10,730 plus 30c for each $1 over $37,000

$80,001 – $180,000

$23,630 plus 37c for each $1 over $80,000

Over $180,000

$63,630 plus 45c for each $1 over $180,000

Compulsory superannuation rate: 9.0%

A flood levy of 0.5% will be applied on taxable income between $50,001 and $100,000 and 1% will be applied on that part of the taxpayer’s taxable income above $100,000.

Summary:


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

Tax cut from previous year:
$
per annum