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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.
Outcomes provided are based only on the information you give, and you should only use it as general advice. It doesn't take into account your personal or financial situation, any Medicare levy, HECS-HELP debt or any capital gains tax you need to pay, and is just for your standard, annual income. The calculator doesn't take into account any deductions you're eligible to claim. If you have tax deductions to claim, a tax agent can help you claim these correctly to help increase the amount of tax you get back (and you can claim the tax agent fee as a deduction, too).
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.
Want more tips on tax?
Use our comprehensive tax guides to stay on top of your finances this tax season.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds.
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It would be difficult to determine if you will get a tax return with the information you’ve provided. It’s highly unlikely you would get a tax return if you haven’t paid any tax, as a tax return is additional tax money that you have paid throughout the year that is then returned to you in a refund.
My taxable income is $144000, and I’ve paid $48000 tax, putting me in the tax bracket up to $180000, I’ve worked out that with out all my deductions I should get around $8000 return however when I go into MyGov and estimate it only calculates $4500. Why would it do this?
Please note that the accurate way to estimate your tax refund includes other factors such as reportable employer super contributions, Medicare levy exemption, reportable fringe benefits etc. The actual tax on your income may be different than the calculated amount shown from the ATO’s official page. If you find their computation questionable, please seek professional advice from a tax agent.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Hello
I have 25000$ income this year and i have received a compensation from my previous employer for 2015 and the tax for that amount i received is in this year payg which is 9000$ plus my current tax i paid 1200 how much will i be able to get in return ??
Thanks
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
You may have to speak/contact a tax expert to give you the numbers on how much you’ll get in tax returns.
Please note that we’re a product comparison website and we do not represent any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Child care expenses are not deductible, although you might be eligible for a child care rebate or child care benefit. You may go ahead and read further on this page to give you a guide to tax deductions.
As this is general information, it would be best that you get in touch with tax agent or accountant for specialised advice.
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I lodged my tax return online in September and still have not received my refund
Hi Shellie, We’re not affiliated with the Australian Tax Office, you’ll need to contact them directly to discuss the progress of your tax return.
If I have earned $26.000 from centerlink and paid no tax will I get any money back
Hi Daniel,
It would be difficult to determine if you will get a tax return with the information you’ve provided. It’s highly unlikely you would get a tax return if you haven’t paid any tax, as a tax return is additional tax money that you have paid throughout the year that is then returned to you in a refund.
Thanks,
Alison
My taxable income is $144000, and I’ve paid $48000 tax, putting me in the tax bracket up to $180000, I’ve worked out that with out all my deductions I should get around $8000 return however when I go into MyGov and estimate it only calculates $4500. Why would it do this?
Hi Jay,
Thank you for getting in touch with finder.
Please note that the accurate way to estimate your tax refund includes other factors such as reportable employer super contributions, Medicare levy exemption, reportable fringe benefits etc. The actual tax on your income may be different than the calculated amount shown from the ATO’s official page. If you find their computation questionable, please seek professional advice from a tax agent.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni
Hello
I have 25000$ income this year and i have received a compensation from my previous employer for 2015 and the tax for that amount i received is in this year payg which is 9000$ plus my current tax i paid 1200 how much will i be able to get in return ??
Thanks
Hi Jazib!
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
You may have to speak/contact a tax expert to give you the numbers on how much you’ll get in tax returns.
Please note that we’re a product comparison website and we do not represent any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Cheers,
Nikki
I need to know how much someone is getting from claiming my two kids.
Hi Stacy,
Thanks for reaching out.
Child care expenses are not deductible, although you might be eligible for a child care rebate or child care benefit. You may go ahead and read further on this page to give you a guide to tax deductions.
As this is general information, it would be best that you get in touch with tax agent or accountant for specialised advice.
Cheers,
Joanne