What does this Calculator do ?

This calculator can help taxpayers to estimate their tax liability.
This simplified AVS Tax Calculator can be used to calculate your annual, monthly, fortnightly and weekly salary after PAYG tax deductions Read more..

Your annual salary ($):

Includes Superannuation Includes HELP debt Non-resident Exclude Taxfree Threshold Backpackers

Year 2018-2019	Weekly	Fortnightly	Monthly	Annually
Gross income	$0.00	$0.00	$0.00	$0.00
Superannuation	$0.00	$0.00	$0.00	$0.00
Total Tax	$0.00	$0.00	$0.00	$0.00
Income Tax	$0.00	$0.00	$0.00	$0.00
HELP debt Higher Education Loan Program (HELP) is a government loan program for tertiary education that is repaid through the tax system. Taxpayer must start repaying his/her HELP debt when his/her income is above the minimum repayment threshold for compulsory repayment. The repayment thresholds are adjusted each year to reflect any changes in average weekly earnings. Compulsory repayments are made through taxpayer’s income tax assessments.	$0.00	$0.00	$0.00	$0.00
Medicare levy Medicare levy is levied at the rate of 2% of a person’s taxable income. Medicare levy is not payable if your taxable income is equal to or less than $ 20896 and it is payable partly if your taxable income is between $ 20,896 and $ 26,121. Then Medicare levy is reduced (on meeting certain conditions) if your family taxable income is equal to or less than $ 44076 plus $ 4047 for each of your dependent child. Also there are exemptions available from Medicare levy like based on medical conditions, for foreign residents and someone who were not entitled to Medicare benefits. However, for simplicity of calculation here, it is assumed that you are single with no dependent children.	$0.00	$0.00	$0.00	$0.00
Tax offsets There are some tax offsets available like Low income earners, if you receive Government benefits, you have dependants, for Senior Australians, Zone tax offsets etc.	$0.00	$0.00	$0.00	$0.00
Low and Middle Income Tax offsets	$0.00	$0.00	$0.00	$0.00
Deficit levy Deficit Levy or temporary budget repair levy was announced as part of the 2014-15 Federal budget to be applied from 1 July 2014 through the financial years 2014-15, 2015-16 and 2016-17. It is levied at the rate of 2% on that part of a taxpayer's taxable income which exceeds $ 180,000.	$0.00	$0.00	$0.00	$0.00
Net income	$0.00	$0.00	$0.00	$0.00

Click here for information on how calculations are done :

Individual Income tax rates

Residents :
These rates apply to individuals who are Australian residents for tax purposes.

Tax rates 2015-16 / 2016-17
The following rates for 2015-16 apply from 1 July 2015.

Taxable income	Tax on this income
0 - $18,200	Nil
$18,201 - $37,000	19c for each $1 over $18,200
$37,001 - $80,000	$3,572 plus 32.5c for each $1 over $37,000
$80,001 - $180,000	$17,547 plus 37c for each $1 over $80,000
$180,001 and over	$54,547 plus 45c for each $1 over $180,000

Tax rates 2014-15
The following rates for 2014-15 apply from 1 July 2014.

Taxable income	Tax on this income
0 - $18,200	Nil
$18,201 - $37,000	19c for each $1 over $18,200
$37,001 - $80,000	$3,572 plus 32.5c for each $1 over $37,000
$80,001 - $180,000	$17,547 plus 37c for each $1 over $80,000
$180,001 and over	$54,547 plus 45c for each $1 over $180,000

In addition to above rates, following is also payable;

Medicare levy of 2%
Temporary budget repair levy or deficit levy @ 2% for taxable incomes of over $ 180,000.

Non Residents :
These rates apply to individuals who are not Australian residents for tax purposes.

Tax rates 2015-16
The following rates for 2015-16 apply from 1 July 2015.

Taxable income	Tax on this income
0 - $80,000	32.5c for each $1
$80,001 - $180,000	$26,000 plus 37c for each $1 over $80,000
$180,001 and over	$63,000 plus 45c for each $1 over $180,000

Tax rates 2014-15
The following rates for 2014-15 apply from 1 July 2014.

Taxable income	Tax on this income
0 - $80,000	32.5c for each $1
$80,001 - $180,000	$26,000 plus 37c for each $1 over $80,000
$180,001 and over	$63,000 plus 45c for each $1 over $180,000

In addition to above rates, following is also payable;

Temporary budget repair levy or deficit levy @ 2% for taxable incomes of over $ 180,000.
*Foreign residents are not required to pay the Medicare levy.

Disclaimer : The calculator provided above is not a comprehensive calculator and should be used for estimation purposes only. In no way, it reflects or warrants that actual tax payments would be same as calculated above. The calculations are generic only and does not take into account your specific circumstances.
While all efforts have been made to ensure the correctness of the calculations, the correctness of the information provided or calculations made cannot be guaranteed. Taxpayers are advised to consult a tax professional before taking any decision.

"AVS Business Services have been looking after our SMSF and our family’s tax affairs for a number of years. Their experience, professionalism and knowledge is of the highest order.Their personalized service and depth of understanding in setting up and managing a SMSF is excellent. They are also happy to go out of their way to assist in every way no matter how small it is."

We would be happy to recommend their services.

Glenn & Andrea Bouche SMSF Trustees February 10, 2016

Income tax calculator / estimator

What does this Calculator do ?

It will estimate their tax payable and will also calculate :

Individual Income tax rates

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