Approximate Tax: $0
Tax Breakdown
| Income | $ |
| Marginal Rate | % |
| Base Tax | $ |
| + Medicare Levy* | $ |
| - Low Income Offset | $ |
| = Approx Tax | $ |
Please note: This calculator is an approximation. Do not rely on this calculator!!! I wrote this because the ATO one was offline at the time, and when it did work it took forever to fill out. I just wanted a quick rough estimate. This calculator does not allow for:
- *Medicare Levy. Calculator above is only accurate if income is over $27,068 and you are single with no dependants and no medicare levy exemptions or reductions. Medicare levy is reduced for many taxpayers, especially pensioners and families.
- Pensioner Tax Offset
- Debts (like HECS or HELP loans)
- Zone or Overseas Rebates
- Unearned under 18 Income or first tax return
- Non Residents
- Small Business Rebate
- Medicare Levy surcharge (if your income is over $90,000 and no private health)
- Capital gains, prior year losses, primary production, fuel and film rebates, and so on.
- Other things I missed 🙂
This does not take into consideration your circumstances and is intended as a general guide only. Please visit the ATO website for more accurate calculators.
2017 / 2018 Tax Table
The tax rates remain the same as 2016/2017. The temporary budget repair levy ceased from 1 July 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 |
| $180,001 and over | $54,232 plus 45c for each $1 over $180,000 |