Pay Calculator

Use our income tax calculator to calculate your take home pay.

  • Take Home Pay
    Take Home Pay $0
  • Total Taxes
    Total Taxes $0
  • Super savings
    Total Super $0
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Breakdown

Weekly Fortnightly Monthly Annually
Taxable Income $0 $0 $0 $0
Super 1 $0 $0 $0 $0
Income Tax $0 $0 $0 $0
Medicare Levy 2 $0 $0 $0 $0
Medicare Levy Surcharge 3 $0 $0 $0 $0
HELP/SSL/TLS Repayment $0 $0 $0 $0
SFSS Repayment $0 $0 $0 $0
STSL Repayment $0 $0 $0 $0
SAPTO $0 $0 $0 $0
Tax Offsets 4 $0 $0 $0 $0
Total Tax $0 $0 $0 $0
Take Home Pay $0 $0 $0 $0
1 This is the amount your employer pays into your superannuation account. It's your money (for when you retire) and you do not need to pay tax on it.
2 Medicare gives Australian residents access to health care. It's partly funded by the Medicare Levy, which is 2% of your taxable income. You pay a Medicare Levy in addition to the income tax you pay on your taxable income.
3 Medicare Levy Surcharge (MLS) is levied on Australian taxpayers who don't have an appropriate level of private hospital insurance and who earn above a certain income threshold.
4 Depending on your income, you may be entitled to the new low and middle income tax offset, weekly, fortnightly, monthly figures are estimates.

How to use the Pay Calculator

To use the Pay Calculator, you’ll need to enter some details about your income. You can find more information about each of these options in the Additional Resources section at the end of this guide.

 

Once you have entered in details about your salary or wages, the Pay Calculator will display a breakdown of your income and any tax or offsets in Weekly, Fortnightly, Monthly, and Annual sections. At the end of the breakdown, the Pay Calculator will display your Take Home Pay for each period.

 

Salary Calculator

If you are using the Pay Calculator as a Salary Calculator, simply enter your annual salary and select the relevant options to your income. In most cases, your salary will be provided by your employer on an annual basis. You can then see how your salary is broken down into weekly, fortnight, or monthly earnings.

 

Wage Calculator

If you are using the Pay Calculator as a Monthly, Fortnightly, or Weekly Wage Calculator, you will need to consider the total amount earned for each period and how this might alter your tax rate. This is a valuable resource for individuals paid a commission for sales or who work overtime, as you can use the wage calculator to understand how your Take Home Pay may vary based on fluctuations in your earnings.

 

Income Tax Calculator

The Pay Calculator also works as an Income Tax Calculator. Once you enter in details about your pay, you’ll see figures displayed in the Breakdown table which indicate the total amount of taxable income you earn, along with the amount of tax deducted from your salary or wages.

 

Income Tax Calculator for Salary Earners

This is particularly useful if you are provided with an annual salary figure, but won’t be working with the company for the full year. In this instance, a salary calculator can help you calculate the amount of tax you will be paying based on your annual salary, versus the actual amount you will be required to pay at the end of the year.

 

For example:

 

  • Your salary is $60,000 per year
  • The projected total amount of annual tax you will pay is $11,067
  • You will only be working for the company for six months of the year before travelling
  • Your total tax paid in that time will be $5533.50
  • As you only work for six months, your total earnings will therefore only be $30,000
  • The actual total amount of annual tax you will pay for the year is $2,142
  • You will then receive a tax refund of $4,462.5 ($5,533.50 - $1,071)

 

While you will still pay tax according to your projected annual earnings ($60,000), your end-of-year tax will only be calculated on your actual earnings ($30,000)

 

Income Tax Calculator for Wage Earners

In Australia, your employer is required to withhold a certain amount of your earnings to put aside for tax obligations. This amount is calculated fortnightly, which can lead to a higher rate of tax being applied to your earnings from one week to the next should you receive any bonuses or overtime pay.

At the end of the year when you submit your tax return, the total amount of tax you owe will be calculated against your yearly earnings. If you have paid any extra tax due to fluctuations in your wages throughout the year, you will receive a tax refund.

 

Other Money.com.au Calculators

If you need to make calculations not relating to your salary and wages, we have a range of Money.com.au calculators designed for interest or loan repayment calculations. You can visit our dedicated page to view the full list of financial calculators, which you can use to estimate loan repayments, compound interest earned on investments, GST on purchases and much more.

Pay Calculator FAQ

The easiest way to understand the difference between gross and net income is:
  • Your gross income is the amount you earn before tax
  • Your net income is your take-home pay

Salary is a fixed amount paid to an employee by their employer, and wages are a variable amount paid to an employee based on their hourly rate multiplied by the hours worked within a set period of time. Wages can fluctuate based on the number of hours worked by an employee, whereas a salary is a regular amount which is not influenced by working fewer or greater hours.

If you are paid at an hourly rate - i.e. not on a salary - you can use the Pay Calculator just as you would for other forms of income. Simply adjust the Pay Frequency settings from Annual to Monthly, Fortnight, or Weekly to match the frequency of payments from your employer, and you can see how details about your pay for each specified pay period.

Yes. The Money Pay Calculator can be used to calculate taxable income and income tax for previous tax years, currently from the 2015-2016 tax year to the most recent tax year, 2019-2020. Simply select the appropriate tax year you wish to include from the Pay Calculator menu when entering in your income details.