Loading...
Loading...
🇦🇺 Australia / Tax
Calculate Australian income tax for FY 2024-25. Covers PAYG withholding, Medicare Levy 2%, LITO up to $700, Stage 3 cuts, and all marginal rate thresholds.
13 calculators
Calculate CGT on Australian investments and property. Apply the 50% CGT discount for assets held over 12 months and see combined federal tax with Medicare Levy.
Calculate the value of franking credits on Australian dividend income. See your tax refund or offset from fully and partially franked dividends at your marginal tax rate.
Add or remove Australian GST at 10% or zero rate. Instant gross and net price calculation.
Add or remove the 10% Australian Goods and Services Tax from any price. Calculate GST-inclusive and exclusive prices for business invoicing and personal purchases.
Calculate your annual HECS-HELP student loan repayment based on taxable income. See repayment threshold, repayment rate, and estimated years to repay your student debt.
Calculate income tax for the 2024-25 Australian financial year. See marginal and average tax rates, Medicare Levy, LMITO, LITO offsets, and total income tax payable.
Calculate Medicare Levy and Medicare Levy Surcharge on any Australian income. See the 2% levy and additional MLS for high earners without private hospital cover.
Calculate the tax benefit of negative gearing on an Australian investment property. See annual tax loss, income tax refund, and whether negative gearing improves your net return.
Calculate PAYG withholding amounts for Australian employees and contractors. See the correct withholding based on tax scale, tax file number declaration, and pay frequency.
Calculate available tax offsets for Australian taxpayers including LITO, LMITO, senior and pensioner offset, and the private health insurance rebate.
Estimate your Australian income tax refund from the ATO. Calculate based on income, deductions, PAYG withheld, and tax offsets to see your estimated refund before lodging.
Calculate your total income tax for the Australian financial year before lodging your tax return. See gross income, deductions, offsets, and net tax payable or refundable.
Calculate PAYG withholding for employees who have not lodged a TFN declaration. See the highest marginal rate withholding and impact of lodging a Tax File Number declaration.
Australia's income tax system for individuals operates on a progressive marginal rate structure for the 2024-25 financial year, following the completion of the Stage 3 Tax Cuts that took effect from 1 July 2024. The tax-free threshold is $18,200, meaning the first $18,200 of income is entirely tax-free for Australian residents. Income above this is taxed at 19% up to $45,000, then 32.5% up to $120,000, 37% up to $180,000, and 45% above $180,000.
All Australian residents pay the Medicare Levy of 2% on top of their income tax, funding the public healthcare system. High-income earners who do not hold private hospital cover may also be liable for the Medicare Levy Surcharge (1–1.5%) on incomes above $93,000 (singles) or $186,000 (families). These healthcare-related levies add meaningfully to the effective tax rate.
Two key tax offsets reduce the effective rate for lower-income earners. The Low Income Tax Offset (LITO) is worth up to $700 for taxable incomes below $37,500, tapering to zero at $66,667. A separate Low and Middle Income Tax Offset (LMITO) was discontinued from 2022-23 and is no longer available. The Senior Australians and Pensioners Tax Offset (SAPTO) applies to eligible pensioners.
PAYG (Pay As You Go) withholding is the mechanism by which employers deduct estimated annual tax from each pay cycle and remit it to the ATO. Australian residents must lodge a tax return each year by 31 October, with most lodging via myTax online, and commonly receive refunds due to PAYG overcollection on irregular income.
The Stage 3 Tax Cuts that took effect from 1 July 2024 restructured the middle income tax bands by a substantial margin. Reducing the 19% rate to 16% was originally proposed, but ultimately the cuts delivered more benefit to the $45,000–$135,000 range by lowering the 32.5% rate and raising the threshold at which the 37% rate applies. Capital gains on assets held for more than 12 months receive a 50% CGT discount, meaning only half the gain is included in taxable income.