Tax Calculator 2017

Online income tax calculator for Australian resident individuals for the year ending 30 June 2017.

For a free spreadsheet version of this calculator go here.

Online tax calculator  – limitations and notes for use

  • Calculation formulae are strictly in accordance with the official tax scale, however this is a basic calculator for generating a quick tax estimate.  Results should be treated with caution: There may be any number of reasons why the results differ from your official tax assessment.  All results have been rounded.
  • If applicable, medicare levy and the relevant rate settings must be manually selected.  Medicare low income threshold calculations are not included.  See here for further information on estimating medicare.
  • Formulae for HELP loans, backpacker tax, part-year or non-residence etc have NOT been included.
  • An automatic LITO (“Low Income Tax Offset”) calculation is included but beware that it does not necessarily apply in all circumstances.
  • To estimate a refund or estimated final tax position, the “scratch pad” area can be used to enter values for tax instalments or any other tax offsets.
  • For a free spreadsheet version of the calculator go here.

Create a tax estimate

  1. To create an estimate, firstly enter taxable income in the blue area below, next to the heading”Enter your income”
  2. (if applicable) select a medicare rate: Click the Y/N box, then select a percentage rate. The standard medicare rate for 2016-17 is 2% (excluding low income reduction or surcharge)
  3. (Optionally) enter offset values in the scratch pad area, in the column headed “Offsets and credits”.
  4. Special note for smart phones: We’re working on improving the display – in the mean time you may find that holding the phone in landscape view works best.

 

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This page was last modified on 27 June 2017