Income tax calculator
Use our simple tax calculator to see how much tax you'll pay for the 2021-22 financial year, and what your tax return may look like.
How to use the income tax calculator
- Add up your total annual income for the year (your gross annual income will be on your income statement or latest payslip for the financial year).
- Don't forget about any additional money you've made from freelance, contract work or a side hustle.
- Enter this figure into the income tax calculator below to see how much tax you will need to pay for the 2021-22 financial year.
Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should only be used as an indication. They are neither a recommendation nor an eligibility test for any product and should not be construed as financial advice, investment advice or any other sort of advice.
Calculating your tax return: How much tax will I get back?
The calculator will tell you how much tax you'll need to pay based on your annual income. If you've paid more tax than you need to, you should get the difference back as a tax return. Alternatively, if you have not paid the correct amount of tax you will need to make up the difference and pay this to the ATO.
It will say how much tax you've paid for the financial year on your group certificate, payment summary or income statement from your employer. This figure will be stated as the amount of tax withheld. If you've paid a lot more tax than you were meant to (based on the results of the income tax calculator above), you should expect to get a refund close to the difference. Just remember that the calculator doesn't take into account the Medicare levy or any HECS-HELP debt you might have, which will also come out of your return.
What are the tax thresholds for the 2022-23 financial year?
To better understand how your tax is calculated, refer to the tax threshold table below. 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. So if you're a non-resident, you'll need to pay tax on all income earned from an Australian source.
|Taxable income||Tax on this income|
|0 – $18,200||Nil|
|$18,201 – $45,000||19 cents for each $1 over $18,200|
|$45,001 – $120,000||$5,092 plus 32.5 cents for each $1 over $45,000|
|$120,001 – $180,000||$29,467 plus 37 cents for each $1 over $120,000|
|$180,001 and over||$51,667 plus 45 cents for each $1 over $180,000|
Your general tax questions answered
How can I reduce the amount of tax I pay?
You can reduce your taxable income, and therefore reduce the amount of tax you need to pay, by claiming deductions.
Do I need to declare interest on my savings account if it’s a small amount?
Yes, you’ll need to declare any interest earned in a savings account.
When do I need to lodge my tax return?
If you're doing your tax return yourself online, you need to lodge your tax returns by 31 October. Keep in mind that the financial year ends on the 30 June.
Is prize money taxable?
Winnings from lotteries, game shows and raffles aren’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, as someone has already paid tax on this.
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 avoid 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.
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