Income Tax Calculator.

This calculator has been designed to give you an idea
on how the tax rates may affect you.
The calculator also compares with previous years.

Income details for the income year (1st of July - 30th of June)

Taxable income is gross income less allowable deductions.

Your taxable income  

This calculator covers various circumstances.  
To save you from going through screens which do not apply in your circumstances,
you can simply select  Yes or No to each of the following sections.  

If you like to try with a different amount or different options, simply click on the [BACK] button
in your browser or press the [BACK SPACE] key on your keyboard to return to this page.  

The first two items apply to most Australians.  Make sure you select  Yes if you want the calculation to take these items into consideration.

 
Select  Yes for any items you want included in the calculation of your tax payable.
Low Income Tax Offset Yes No
Medicare levy * Yes No
Do you have Private Hospital Insurance
That qualifies for the Medicare Surcharge Exemption? ** 		Yes No
Flood Levy *** Yes No

* The Medicare levy is currently set at 1.5%. An exemption applies to low income earners. This has been taken into account in the calculator.
** The Medicare Levy Surcharge, currently set at 1.0%, for individuals on high annual incomes (which increased to $70,000 in the 2008 federal budget) who do not have adequate levels of private hospital coverage.
*** The flood levy only applies to taxable income derived from 1 July 2011 to 30 June 2012. Tick NO if you are exempt from the flood levy. See ATO information of Flood Levy Exemptions.


 

 

When in doubt, seek the advice from a qualified accountant or call the tax office: ( Personal tax enquiries - 13 28 61)
Disclaimer: This is a guide only. We do not accept responsibility for it's accuracy.