Approximate Tax: $0
|+ Medicare Levy*||$|
|+ Temp Budget 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.
2016 / 2017 Tax Table
|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|