Find out how much of your income could be taxed and how much you’ll take home with Champion Broker’s Income Tax Calculator.
Want to know how much of your income will stay in your pocket and how much will go to the tax office?
Use our Income Tax Calculator to estimate your take-home pay after tax. Simply enter your gross (before-tax) income to see your approximate net income.
This calculator provides estimates only. It does not consider deductions, offsets, or levies such as the Medicare levy. For personalised advice, speak to a registered tax adviser.
Taxes are essential for funding public services, and every year the Australian Taxation Office (ATO) updates income tax thresholds.
For the 2024–25 financial year, the rates for individual Australian residents are as follows:
| Taxable income | Tax on this income |
|---|---|
| $0 – $18,200 | Nil |
| $18,201 – $45,000 | 16c for each $1 over $18,200 |
| $45,001 – $135,000 | $4,288 plus 30c for each $1 over $45,000 |
| $135,001 – $190,000 | $31,288 plus 37c for each $1 over $135,000 |
| $190,001 and over | $51,638 plus 45c for each $1 over $190,000 |
Source: Australian Tax Office (ATO)
According to the ATO you only start paying income tax once your earnings exceed $18,200 per year (the tax-free threshold). Any income above this threshold is taxed according to the rates in the table above.
In addition:
Your taxable income is your total assessable income minus allowable deductions.
According to the ATO
Taxable income = Assessable income – Allowable deductions
Certain types of income (like some government pensions or education payments) may be exempt.
This content is general information only and should not be relied upon for tax decision-making. Please seek personalised advice from a registered tax agent or qualified adviser.
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