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Wondering how much tax you’ll pay this financial year? Use our income tax calculator to quickly estimate your tax payable, Medicare levy, and take-home income. Whether you’re an employee, freelancer, or business owner, this simple tool helps you understand your tax obligations and plan ahead with confidence.
Tax can feel confusing – but with the right information, it doesn’t have to be. Our income tax calculator makes it easy to see exactly how much of your income goes to tax and how much stays in your pocket.
Example Income Tax Calculation
If you’re sitting on a yearly salary of $70,000, your results may look like:
| Taxable Income Range | Gross Income | Income Tax | Net Income |
| Annually | $70,000 | $13,231 | $56,768 |
| Monthly | $5,833 | $1,102 | $4,730 |
| Fortnightly | $2.692 | $508 | $2,183 |
| Weekly | $1,346 | $254 | $1,091 |
To break it down:
- Gross income is your total earnings before tax.
- Income tax represents estimated deductions based on your annual salary.
- Net income is what you take home after tax – what actually hits your account each pay cycle.
How Our Income Tax Calculator Works
Your income tax is based on how much you earn and which deductions or offsets you’re eligible for. The income tax calculator takes into account your taxable income, Medicare levy, and Australia’s progressive tax brackets to estimate your total tax for the financial year.
If you’re an employee, your employer withholds tax from each pay and sends it to the ATO on your behalf. If you’re self-employed, you’ll need to set aside and pay that money yourself. Either way, using a calculator ensures you’re not caught off guard come tax time.
Frequently Asked Questions
Our calculator uses the latest ATO rates for the 2024-25 and 2025-26 financial years, giving you a close estimate of your tax. Keep in mind, actual results may vary depending on deductions or offsets.
Not by default. HELP/HECS is calculated separately using the ATO’s repayment thresholds and your repayment income (which can differ slightly from taxable income). To estimate your take-home pay, including HELP/HECS, first use the calculator to get your after-tax figure, then subtract the applicable repayment percentage for your income band.
Definitely. Whether you’re a sole trader, contractor, or small business owner, the calculator works for all income types.
Yes, it will display your approximate take-home pay after income tax and Medicare levy are applied. You can adjust figures to compare different income levels or deductions.
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