tax time

How much will my tax refund be this financial year?

Find out how much money you receive after tax so you can budget accurately.

Our calculator will help you calculate how much tax you get back or how much you owe. It will take a couple of seconds to complete. Each year, income tax rates depend on your income and your residency status. Non-residents are taxed at a high rate and are not entitled to a tax-free threshold, that is, they need to pay tax on any income earned from an Australian source.

Please note that all outcomes provided in the calculator are based on the information your provide and you should only use it as general advice. It doesn't take into account your personal or financial situation.

How do I use the income tax calculator?

The income tax calculator is simple to use. You’ll need to know what your gross annual income is – that means your income before subtracting deductions and taxes. Once you enter this figure in you’ll receive two results. It will state your net annual income, that is, the income you receive after PAYG has been deducted. Below it will state how much tax you're liable to pay based on the income you've stated.

Take care when using this calculator to look at the correct financial year.

See the comprehensive tax returns guide here.

What are the tax thresholds for the 2015 - 2016 financial year?

Taxable incomeTax calculated at
Less than $18,200None
$18,201 - $37,00019c per $1 > $18,200
$37,001 - $87,00032.5c per $1 >$37,000 plus $3,572
$87,001 - $180,00037c per $1 >$87,000 plus $19,822
More than $180,00145c per $1 >$180,000 plus $54,232

What if I use an ABN? Are the tax rates different?

If you're self employed or a sole trade, the same income tax rates apply to your situation. For example, if you've earned $100,000 as a sole trader you would be liable to pay $

I've already paid tax this year. Do I have to pay more?

This depends on your income. Maintaining the example above, if you earn $100,000 in the financial year and you've already paid $20,000 in PAYG tax, then in your return you'll be able to pay the remaining $4,947 and therefore, not receive any tax back.

Case study - Max's tax tale

man applies for payday loanMax earns $45,000 per year. He wants to save 30% of his income, but isn’t sure of how much of the $45,000 he’ll be able to save each year. Using the calculator, he works out that he will have $38,828 per year to save. This is a total of $11,648.

Max divides this by 52 weeks and is left with a total of $224, meaning he’ll have approximately $522 left per week once his savings are deducted. Max works out that this is too much money for him to put away given his rent and living expenses, so he reduces the amount $200 and in a year saves $10,400.

If you plan your budget out and regularly set aside money for different expenses with a tool such as an automatic transfer, it makes the process more accurate. An income tax calculator can also help when purchasing an asset, as you can find out who is in a lower tax bracket and therefore whose name the asset should be purchased in to minimise capital gains tax.

Your general tax questions answered

Do I need to declare interest on my savings account if it’s a small amount?

You’ll need to declare any interest earned in a savings account.

When do I need to lodge my tax return by?

Tax returns need to be lodged by 31 October. Keep in mind that the financial year ends on the 30 June.

Is prize money taxable?

Lottery, game show and raffles isn’t taxable, but if you regularly receive winnings from game shows it might be.

Is child support taxable?

You usually don’t have to declare child support payments. You also can’t claim deductions for these.

Are cash birthday presents taxable?

These are not taxable, although if the amount received was a large amount or was earned in a business-style transaction they might be.

Are overseas pensions taxable?

If you’re an Australian resident for tax purposes you’ll be taxed on your foreign pensions, annuities, capital gains from overseas properties and more. Australia has a system to overcome double taxation in the event that you get taxed in the country where your income comes from. If you’re not an Australian resident you usually won’t need to declare earnings from overseas sources.

Knowing how much tax you’ll pay in a year will help you budget accurately and plan your tax minimisation strategies accordingly. Remember that when planning these matters it’s always helpful to seek the advice of a tax expert such as an accountant.

Marc Terrano

A passionate publisher who loves to tell a story. Learning and teaching personal finance is his main lot at Talk to him to find out more about home loans.

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112 Responses to How much will my tax refund be this financial year?

  1. Default Gravatar
    | November 30, 2016

    I and my wife earned 48000. How much money I get back.I have 2kids

    • Staff
      Anndy | November 30, 2016

      Hi A b,

      Thanks for your question.

      Using the tax calculator on our page, your tax will be about $ 7,147.00. Please note the limitations of our tax calculator and the actual tax on your income may be higher than the calculated.

      Additionally, child care expenses are not eligible as a tax deduction, but you may be able to claim the Child Care Tax Rebate (CCTR) through the Family Assistance Office.

      Your tax refund will depend on how much tax has been withheld or paid.

      If you need expert advice on taxes, you can reach out to a tax expert through this page.


  2. Default Gravatar
    Andy | November 28, 2016

    I made 9000 I was wondering how much I would get bk for me my wife and five kids

    • Staff
      Clarizza | November 28, 2016

      Hi Andy,

      Thanks for your question.

      Based on your income for the last financial year, you are not liable to pay tax. However, if you have paid tax, you should get back the difference. To find out how much you’re liable to pay or how much is owed to you by the tax office, simply enter your annual income in the tax calculator on this page.

      Please note, other factors such as work expenses may affect the final amount owed.

      If you’d like to discuss your situation in further detail, you can speak to a financial planner.


  3. Default Gravatar
    None | November 19, 2016

    Can I write off money that has been lost thru an internet romance scam if I have all receipts and have reported this to the proper authorities ?

    • Staff
      Shirley | November 21, 2016

      Hi Gary,

      Thanks for your question.

      Unfortunately to our knowledge, you can only claim deductions or losses made from investments.

      We highly recommend that you speak to a tax accountant about your enquiry.

      Sorry that we couldn’t assist further,

  4. Default Gravatar
    alu | October 14, 2016

    hi i want to ask when can i claim my tax return and can i do so while am working still i heard that u can if sars already has deducted 50000 from me is this true??

    • Staff
      Shirley | October 14, 2016

      Hi Alu,

      Thanks for your question.

      Please note that is an Australian comparison service, we are only allowed to provider general advice relevant to Australia only.

      Since SARS is based in South Africa, we highly recommend that you speak to an expert relevant for that location.

      Sorry that we couldn’t assist you further.

  5. Default Gravatar
    Graham | September 17, 2016

    Hi there, I had earned 59,000 this year and have Hecs debt of 9800. I have earned of the threshold of 54000. I have a property overseas. Apparently saying that I have earned interest on it. I have now a bill of 4800. Is this right as I think my tax is wrong.

    • Staff
      Shirley | September 19, 2016

      Hi Graham,

      Thanks for your question.

      Unfortunately your question is beyond the scope of our advice. We can only offer general advice that doesn’t take into account investments and HECS.

      If you’d like to discuss your personal situation in further detail, we recommend you speak to an online tax agent.

      I hope this has helped.

  6. Default Gravatar
    THANDIWE | August 29, 2016


    • Staff
      Clarizza | August 30, 2016

      Hi Thandiwe,

      Thanks for your comment.

      If your annual income is $90,000, you are liable to pay $21,247.00 in tax – that is for one financial year.


  7. Default Gravatar
    Tim | August 29, 2016

    I am a New Zealand citizen, I have worked in Australia for two months and have earned close to $18000, do I apply for the no tax bracket? Thanks

    • Staff
      Clarizza | August 29, 2016

      Hi Tim,

      Thanks for your question.

      If you earn under $18,200, you are not liable to pay tax. If you are still unsure, you can speak to an online tax agent to discuss your personal situation. Please note, we are a comparison website and as such, provide general advice only.


  8. Default Gravatar
    Sanjee | August 27, 2016

    How to depreciate my laptop which is more than AUD 1000. (Which is not a low cost asset)

    • Staff
      Clarizza | August 29, 2016

      Hi Sanjee,

      Thanks for your comment. Are you enquiring about how to claim depreciation on your laptop? If you use the laptop to earn your income, you can claim the depreciation on tax. The ATO website is a good resource for finding out how to claim the depreciation on such items, otherwise you may want to read more on our Depreciation vs. Full Claim page.

      Please note, we are a comparison website and as such provide general advice only.


  9. Default Gravatar
    Koreen | August 26, 2016

    If the gross amount is 56,445
    And the with held tax is
    How much would the return be asking for a friend

    • Staff
      Clarizza | August 30, 2016

      Hi Koreen,

      Thanks for your comment.

      Based on your gross income, you are liable to pay $9,891.63 for the last financial year. As you already have $10,145 tax withheld, you may be entitled to a tax refund of $253.37.

      Please note we provide general advice only and if you’d like to discuss your personal situation in further detail, we recommend you speak to an online tax agent.

      Hope this helps.


  10. Default Gravatar
    Taleshia | August 23, 2016

    I earn $214 a week (at the most) and I’m getting taxed $48 dollars a week.. But people keep telling me I shouldn’t be getting taxted at all. Is this right?

    • Staff
      Clarizza | August 24, 2016

      Hi Taleshia,

      Thanks for your question.

      Based on the tax threshold for the 2015-2016 financial year, an annual income of less than $18,200 means you are not liable to pay tax. If you earn $214 a week, you would not have to pay tax and may be entitled to a refund. If you would like to discuss your personal situation, we recommend you speak to an online tax agent.

      Please note, we are a comparison website and provide general advice only.


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