You are entitled for $ Low Income Offset and $
Low and Middle Income Offset.
You may be entitled for Tax Offsets.
NOTE:Although calculations in this calculator are according to
ATO Tax Threshholds,
it should still be considered as an estimate only.
Calculations in this calculator assumes that you are single with no dependants.
What Is Difference Between Gross Income & Net Income?
Gross Income is the amount you earn in particular week, month or year.This amount includes income tax,
medicare levy, and other possible deductions.
Net Income is your take home pay which you get after paying all taxes.
What is Australian Tax Year
Unlike normal Calendar year, Australian Tax year starts on 1st July and end on 30th June.All the tax lodgment
must be done before 31st October to avoid penalty.