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Australia — Income Tax

Resident rates with optional Medicare levy & offsets.

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Individuals use marginal brackets; companies typically use a flat rate.

Enter income after deductions.

Enter genrated revenue .

Enter Cost.

Standard Medicare levy is 2% (residents). Typically not applied to companies.

PAYG withheld or total tax already paid.

Result

Income After Tax
—
Total Income Tax
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Medicare levy
—
Total Tax ( tax + levy)
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Tax Paid on Your Income
—
Tax Payable
—

Result

Annual Cost
—
Annual Revenue
—
Total Taxable Income
—
Total Tax
—
Tax Paid On Your Income
Tax Payable
—

How your tax is calculated

Individual vs Non-individual (company)
Individual (resident)
  • Taxed by marginal brackets you listed above.
  • Medicare levy (if selected) is added.
  • Offsets (e.g., LITO) may reduce calculated tax.
Non-individual (company)
  • Typically a flat rate (e.g., 25% or 30%) on taxable income.
  • Medicare levy not applicable.
  • Offsets differ or don’t apply like individuals (handled in company tax rules).
Common offsets (how & when applied)

Offsets reduce your calculated tax (they don’t reduce taxable income). In this calculator you can implement them after computing bracket tax.

Offset Applies to income Amount / Formula How to apply
LITO (Low Income Tax Offset) Up to ~$66,667 (phases out) Example: max $700; reduces by 5c per $1 above ~$37,500 until nil. Compute bracket tax → subtract LITO (not below zero).
Senior & pensioner (SAPTO) Eligible seniors; thresholds vary Capped offset that phases out as income rises. Apply after bracket tax; depends on eligibility.
Zone/Overseas forces Specific living/service criteria Fixed or scaled amounts Add after brackets; confirm eligibility.

Notes: Offsets are capped and subject to eligibility. Exact thresholds/amounts can change; confirm current values for production use.

Step-by-step (calculation order)
  1. Start with taxable income (after deductions).
  2. If Individual: compute tax via the marginal brackets you provided.
  3. If Company: compute tax = income × (rate/100).
  4. Apply offsets (e.g., LITO) to reduce tax, not below zero.
  5. Add Medicare levy (if selected and Individual).
  6. Total payable = tax after offsets + levy.
  7. Compare with Tax paid → you get remaining payable (or refund).
  8. Take-home = income − total payable.
Examples
Individual (with LITO & levy)

Income $45,000, levy 2%.

  • Bracket tax (per your schedule): $4,288 + 30%×(45,000−45,000)= $4,288.
  • Illustrative LITO: say $700 (phase rules may reduce).
  • Tax after offsets: $4,288 − $700 = $3,588 (min 0).
  • Levy: 45,000 × 2% = $900.
  • Total payable ≈ $4,488.
Company (flat rate)

Income $90,000, rate 25%.

  • Company tax: $90,000 × 25% = $22,500.
  • No Medicare levy.
  • Total payable ≈ $22,500 (before any company-specific adjustments).

Examples are illustrative; wire your exact rules into the calculator logic.

Calculation History