60000). It will auto-format.11%).This pay calculator provides estimated calculations based on current tax laws and publicly available information from the Australian Taxation Office (ATO). It is designed for Australian residents and assumes a straightforward tax situation without adjustments for offsets, rebates, or other individual entitlements.
The calculator begins by converting the entered salary to an annual figure, depending on the selected pay frequency (annual, monthly, fortnightly, or weekly). It then determines the applicable tax year and applies the corresponding income tax brackets to calculate base income tax. The income tax calculation is progressive—meaning different portions of income are taxed at increasing rates according to the bracket thresholds for the selected fiscal year.
Medicare Levy is then calculated. For the 2022–2023 financial year, individuals earning $24,276 or less are exempt. A phased levy of 10% applies on the portion above the threshold up to $30,345, after which the standard Medicare Levy rate of 2% applies to the full income. For the 2023–2024 and 2024–2025 years, the exemption threshold is $26,000, and the phased levy applies up to $32,500 before switching to the 2% rate. These calculations assume no dependants and do not consider any applicable Medicare Levy exemptions, reductions, or surcharges.
Superannuation contributions are estimated using the mandatory employer contribution rates for the selected fiscal year: 10.5% in 2022–2023, 11% in 2023–2024, and 11.5% in 2024–2025. The annual contribution is capped at the concessional contribution limits for each year ($27,500 in 2022–2024 and $30,000 in 2024–2025).
Division 293 tax is also calculated when applicable. If an individual's combined income and superannuation contributions exceed $250,000, a 15% tax is applied to the lesser of their concessional super contributions or the amount by which their income exceeds the threshold. However, this estimated Division 293 tax is shown separately and is not included in the total tax figure, reflecting how it is treated in actual ATO assessments.
If the individual indicates they have a student loan, the calculator estimates their repayment using the HELP (Higher Education Loan Program) and related loan repayment thresholds and rates for the selected year. Repayment rates range from 1% to 10%, depending on income. This includes repayments for loans such as VET Student Loans (VSL), SFSS, SSL, ABSTUDY SSL, and AASL (formerly TSL), as applicable.
The calculator displays results based on the selected pay duration, allowing the user to view figures on an annual, monthly, fortnightly, or weekly basis. All monetary outputs are formatted in Australian dollars.It is important to note that while this tool provides reasonably accurate estimates, it does not account for all tax complexities, and its results should not be used for formal financial, legal, or tax planning. The outputs are purely informational and should be verified with a registered tax agent or the ATO for personalized advice.