tax time

How much tax will I pay this financial year?

Our calculator shows how much tax you'll pay so you can work out what your tax refund will look like.

Our calculator will show you how much tax you need to pay based on your annual income. From this, you can then figure out how much tax you should get back in your tax return, or how much you owe the Australian Tax Office (ATO). It only takes a couple of seconds to fill in the necessary information.

Please note that all outcomes provided in the calculator are based only on the information you provide, and you should only use it as general advice. It doesn't take into account your personal or financial situation. The calculator does not take into account any Medicare levy, HECS-HELP debt, or any capital gains tax you need to pay, and is just for your standard, annual income.

How to use the income tax calculator

The income tax calculator is simple to use. First, you’ll need to know your gross annual income. This is your income before any deductions or taxes (gross payments) and you can find this figure on your payment summary, group certificate or payslip. Once you enter this figure into the calculator, you’ll receive two results. You will see your net annual income, which is the income you receive after PAYG tax has been deducted, and how much tax you'll need to pay based on the income you've stated.

How much tax will I get back?

The calculator will tell you how much tax you'll need to pay. If you've paid more tax than you need to (as stated on your group certificate or payment summary as the amount of tax withheld) 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. Just make sure you are looking at the correct financial year when using the calculator.

Emma uses finder's calculator to figure out her tax return

Emma wants to get an idea of how much tax she'll receive this year in her tax return. For six months of the year she worked full time as a waitress at a cafe, and did not work the other six months as she was studying. Emma looks at the payment summary her boss gave her for the previous financial year and sees that she earned a total of $21,750 over the year. This is displayed as her gross payments on her payment summary. Using the calculator, Emma selects the correct financial year and enters $21,750 into the gross payments box and hits calculate.

The table tells her that she is required to pay $674.50 in tax to the Australian Taxation Office. However, looking at her payment summary, Emma can see that she has paid $4,845 in PAYG tax. Emma calculates the difference to be $4,170. This means that Emma has overpaid tax, and she should expect potential return of around $4,170 in her tax return. However, given that the calculator DOES NOT take into account the Medicare levy or her HECS-HELP debt, Emma ensures she factors this into final result. She calculates that her return will likely be just under $4,170.

*The above is a fictional case study only.

Have you considered doing your tax return online?

Rates last updated September 21st, 2017
Details Features
One Minute Tax
One Minute Tax
Lodge a basic tax return online from just $99.
    One Minute Tax could help you:
  • Lodge your individual tax return
  • Lodge a company tax return
  • Maximise your return
  • Online bookkeeping
Go to site More info
Refund Express
Refund Express
Lodge a basic tax return online from just $29.
    Refund Express could help you
  • Lodge your tax return online
  • Maximise your tax return
  • Claim various income streams and deductions
Go to site More info
Commonwealth Financial Planning
Commonwealth Financial Planning
Free initial consultation offer with a financial planner Commonwealth Financial Planners could help you:
  • Grow your super
  • Insure your family and assets
  • Plan your investments
  • Prepare for retirement
Go to site More info

See the comprehensive finder.com.au tax returns guide here.

What are the tax thresholds for the 2016 - 2017 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 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 Australian Business Number (ABN)? Are the tax rates different?

If you're self-employed or a sole trader, you still pay the same income tax rates. For example, if you've earned $100,000 as a sole trader, you would need 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 you'll still need to pay the remaining $4,632. You can work out of you need to pay additional tax using our calculator above, by working out the difference between how much tax you need to pay and how much you've already paid, as stated on your payment summary.

Knowing how much tax you need to pay can help you budget for the year.

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 how much of the $45,000 he’ll be able to save each year. Using the calculator, he works out that he will have roughly $38,828 left after taxes. Max calculates that 30% of this total is $11,648.

Max divides this amount by 52 weeks and gets a figure of $224. This is the money he would have to save each week to meet his savings goal. Max figures out that saving this much will only leave him with approximately $522 per week once he deducts his savings. He decides that this is too much money for him to put away given his rent and living expenses, so he reduces the amount to $200 and in a year saves $10,400.

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?

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.

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.


Knowing how much tax you’ll pay in a year will help you to budget accurately and to plan your tax strategies. Remember that when planning your tax strategies, you should always seek the advice of a tax expert such as an accountant.

This article discusses individual tax returns for the financial year and how to use the finder Income Tax calculator. Tax calculations and slabs mentioned in this article are validated at the time of publishing and may vary with time. Committing to a Statement of Advice (SOA) is an individual decision. Users are also requested to read all terms and conditions carefully before committing to any Tax Service.

Marc Terrano

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

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

142 Responses

  1. Default Gravatar
    BridgetJuly 12, 2017

    I went to do my tax at tax today Fairfield. I got charged fees and also on top of that $500 which is for taxable income for tomorrow. Not too sure if I’ve been sucked in,but my return was $500 less than I was suppose to get

    • Staff
      JonathanJuly 27, 2017Staff

      Hello Bridget,

      Thank you for your inquiry today.

      You can lodge your tax return on ATO website for comparison.

      Hope this helps.

      Cheers,
      Jonathan

  2. Default Gravatar
    LiamJuly 6, 2017

    Do these figures include GST?

    • Staff
      JonathanJuly 9, 2017Staff

      Hi Liam!

      Thanks for reaching out! :)

      The table we have is on this page is an individual income tax table. It’s calculated on assessable income less any allowable deductions and this is not including GST.

      If you wish to know more how GST works, you can check this page. Link for the individual tax rate table is here.

      Hope this clarifies.

      Cheers,
      Jonathan

  3. Default Gravatar
    anuJuly 6, 2017

    hi
    I am having my annual salary $46712.64
    superannuation $2690.87
    I am filing tax return for the first time
    how much I will get back

    • Staff
      DanielleJuly 6, 2017Staff

      Hi Anu,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      You can use the calculator on this page for an estimate. Input $46,712.64 as your annual salary and the result will show you’re liable to pay $6,728.61 in tax. So to compute your estimated tax return:

      $6,728.61 – $2690.87 = $4,037.74

      But please take note that the results should be used as indication or for general advice only as all other personal circumstances are not yet taken into account. If you need expert advice on taxes, please seek a tax expert such as a tax agent or a specialist tax provider.

      I hope this helps.

      Cheers,
      Danielle

  4. Default Gravatar
    JuanJune 19, 2017

    HI,

    My annual income is 50000. How much every fortnight should I receive?

    • Staff
      DanielleJune 20, 2017Staff

      Hi Juan,

      Thank you for contacting finder.com.au. We are a comparison website and general information service, we’re more than happy to offer general advice.

      If you use the Income Tax Calculator built in with this page, you will see that the results are:

      Net annual income: $ 42,203.00
      Tax: $ 7,797.00

      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 shown.

      For additional options that can help you look into your tax return, you may refer to this page.

      I hope this helps.

      Cheers,
      Danielle

  5. Default Gravatar
    ianJune 18, 2017

    I earn $40000 and have taken $22000 which the super people did not tax, so how much will I have to pay at the end of the year?

    • Staff
      LiezlJune 20, 2017Staff

      Hi Ian,

      Thanks for your question.

      Unfortunately, we won’t be able to compute the amount of your tax for you as we are not qualified tax experts. Kindly note there are several factors you have to take into consideration when computing for your tax such as deductions you’re entitled to claim and tax you have to pay on your super contributions. It’s a good idea to seek the advice from Australian Tax Office or consult with a qualified tax expert to find our how much tax you have to pay.

      I hope this has helped.

      Cheers,
      Liezl

  6. Default Gravatar
    June 5, 2017

    Hi I’m Steve , last year I cashed in some of my super under finacial hardship. I pretty sure I paid tax something like $1800 from the super when I got it. Will I get that all back this year. ? I haven’t worked this year due to the injuries and operations.

    • Staff
      DanielleJune 5, 2017Staff

      Hi Steve,

      Thank you for reaching out to us here at finder.com.au. We are a comparison website and general information service, we’re more than happy to help.

      It would be best seek professional advice, preferably to a tax specialist who is more knowledgeable about the direct impact of Super on tax

      I hope this helps.

      Cheers,
      Danielle

  7. Default Gravatar
    May 21, 2017

    Will I pay back tax if I earn over 100k and single?

    • Staff
      JasonMay 22, 2017Staff

      Hi Tina,

      Thank you for your enquiry.

      Australian residents are required to pay tax on the income they earn even if they’re single. You may use the income tax calculator above to get a rough estimate of your tax obligations. Please note that the results should be used as indication only and that the actual tax on your income may vary from the calculated amount.

      If you want to know some ways on how to save money on tax, please check out this link for some helpful tips.

      I hope this helps.

      Kind regards,
      Jason

  8. Default Gravatar
    harryMay 15, 2017

    if I make 500000 a year how muck will get taxed

    • Staff
      ArnoldMay 16, 2017Staff

      Hi Harry,
      Thanks for your inquiry.

      These are the tax thresholds for the 2015 – 2016 financial year.

      Less than $18,200 None
      $18,201 – $37,000 19c per $1 > $18,200
      $37,001 – $87,000 32.5c per $1 >$37,000 plus $3,572
      $87,001 – $180,000 37c per $1 >$87,000 plus $19,822
      More than $180,001 45c per $1 >$180,000 plus $54,232

      So if you have an annual income of $500,000, you will be taxed $54,232 plus 45c for every dollar over $180,000.
      That is excluding deductions which can be calculated using our Tax Deduction Calculator
      You can also check these pages for Income Tax Calculator and Tax Returns

      Hope this information helped.
      Cheers,
      Arnold

  9. Default Gravatar
    Rue13January 27, 2017

    I made 14 thousands last year. How much would i get back with no dependents?

    • Staff
      AnndyJanuary 27, 2017Staff

      Hi Rue,

      Thanks for your question.

      Please note that the tax calculator on our page is only for the use of Australian residents.

      As we are not tax experts, we are unable to compute how much your tax refund will be. Please do get in touch with a tax specialist to help you.

      Cheers,
      Anndy

  10. Default Gravatar
    BrittanyJanuary 16, 2017

    I worked three months and made about $2500 I had a baby 12/29/16 how much will I get back on my tax return claiming my baby also

    • Staff
      MayJanuary 17, 2017Staff

      Hi Brittany,

      Thank you for contacting finder.com.au – a financial comparison website and general information service designed to help consumers make better decisions.

      Just to confirm though that we do not represent IRS or any company we feature on our pages. If you’d like to find out how much would be your tax return, you’d be best to seek a professional advice from a tax specialist.

      Cheers,
      May

Ask a question
feedback