Australian Tax Calculator (FY 2024-2025)
Calculate your income tax, Medicare levy, and surcharge. Updated for the Stage 3 tax cuts effective 1 July 2024.
Income Details
Medicare & Family
Used for Medicare Levy & Surcharge thresholds.
$64,100
Annual Take Home
$16,618
Total Tax Paid
$9,283
Superannuation
Tax Breakdown
Taxable Income$80,717
Income Tax (Gross)$15,003
Tax Payable- $15,003
Medicare Levy (2%)- $1,614
Net Pay$64,100
Pay Cycle Breakdown
| Frequency | Gross | Tax & Deductions | Net Pay |
|---|---|---|---|
| Weekly | $1,552 | - $320 | $1,233 |
| Fortnightly | $3,105 | - $639 | $2,465 |
| Monthly | $6,726 | - $1,385 | $5,342 |
| Annually | $80,717 | - $16,618 | $64,100 |
Calculation Methodology
This calculator uses the official ATO PAYG withholding formulas and tax tables.
- Income Tax: Based on the Treasury Laws Amendment (Cost of Living Tax Cuts) Act 2024.
- Medicare Levy: Calculated at 2% of taxable income, with legislated low-income reductions.
- HELP/STSL: Repayments calculated on Repayment Income (Taxable Income + Net Investment Loss + Reportable Fringe Benefits + Reportable Super Contributions).
Disclaimer: Results are estimates for scenario planning only and do not constitute financial advice. Actual tax payable may vary based on individual circumstances.