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

    Default Gravatar
    Christa | January 10, 2017

    I made 10000 for the year I have 5 kids what will my refund be

      May | January 10, 2017

      Hi Christa,

      Thanks for your question and for contacting – a financial comparison website and general information service designed to help consumers make better decisions.

      As we are not tax experts, I’m afraid we may not be able to advise how much would be your tax refund. I would suggest that you speak with a tax specialist who could help you with your return.


    Default Gravatar
    how | January 9, 2017

    How much will I get back if I made 18500 $ have one child to claim and they took 1800 off in federal taxes

      Anndy | January 12, 2017

      Hi there,

      Thanks for your question.

      Please note that the tax calculator on our page is only for the use of those who are paying taxes in Australia. If you are from the US, you may want to get in touch with a local tax agent who can help in preparing your tax return and answer your queries.


    Default Gravatar
    Mike | December 23, 2016

    If my year to date is 3,000 how much would my state taxes be?

      Anndy | December 23, 2016

      Hi Mike,

      Using our calculator above, if your income is $3,000, your tax will be $0.


    Default Gravatar
    Tasha | December 19, 2016

    My annual income is about 20000 and I’m claiming my 2 children who are both under 13 years of age. How much would my refund be?

      Jason | December 19, 2016

      Hi Tasha,

      Thank you for your enquiry.

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

      Using the tax calculator on this page, your estimated tax will be about $ 342.00. This estimate does not include any applicable Medicare levy, Medicare levy surcharge, Higher Education Contribution Scheme (HECS), or Student Financial Supplement Scheme (SFSS) liabilities. The actual tax on your income may be higher than the calculated amount.

      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.

      If you need expert advice on taxes, please seek the advice of a tax expert such as a tax agent or a specialist tax provider.

      Kind regards,

    Default Gravatar
    Tri | December 13, 2016

    I earned 34.000. how much I get tax return, and my husband earn 130.000

      Clarizza | December 13, 2016

      Hi Tri,

      Thanks for your question.

      Based on rates for the 2015-2016 Financial Year and your annual income of $34,000, you are liable to pay $3,002.00 in tax. Your tax return will depend upon the difference between how much you owe to the ATO and how much tax you have already paid. Other factors such as claiming work-related expenses may also impact the tax return amount.

      Your husband is liable to pay $36,047.00 in tax and his tax return will depend upon the above factors mentioned.

      Please note, we are a general comparison website and provide general advice only. If you would like to discuss your personal situation in further detail, you can speak to a financial planner.


    Default Gravatar
    | November 30, 2016

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

      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.


    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

      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.


    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 ?

      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,

    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??

      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.

    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.

      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.

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