Following release of the Budget 2017-18 on 9 May 2017, the 2017-18 basic tax scale is confirmed as unchanged from the previous year. However the Temporary Budget Repair Levy of 2% on higher incomes ($180,000+) expires on 30 June 2017, and the 2017-18 tax calculator has been updated to reflect this.
The current version of the Excel spreadsheet has separate tabs for tax years 2016, 2017 and 2018. Until/unless future amendments apply, 2018 rates will also apply in 2018-19.
Useful as a planning tool, this spreadsheet tax calculator provides current resident tax rate calculations, with LITO, manual medicare calculations and a scratch pad area where you can check the results with offsets and see after-tax calculations.
This is a simple spreadsheet calculator which enables the calculation of income tax plus Medicare Levy and LITO for taxable income on an annual basis.
The sheet runs on simple formulae and does not contain any macros. MS Excel for Windows PC version is required.
Note: This is an annual tax calculator, which won’t give exactly the same result as the tax instalment calculator which is used for for payroll deduction purposes. That’s because the formulae the ATO use for tax withholdings for payroll purposes (PAYG) are not identical to the actual tax scale.
This page was last modified on 2017-10-20