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australia tax calculator

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Gross Income: 72,000.00 AUD / 72,000.00 AUD

Tax Due: 19,624.00 AUD / 19,624.00 AUD

Net income: 52,376.00 AUD / 52,376.00 AUD

Overall Tax Rate: 27.3 %

Figures based upon 1 AUD = 1 AUD.

In Australia, an income of 72,000.00 AUD / 72,000.00 AUD is more than the lowest average advertised salary of 31,000.00 AUD / 31,000.00 AUD and less than the country's average income of 72,000.00 AUD / 72,000.00 AUD.

Why not compare the taxation and buying power of Australia with another country? click here.

Here are how much some common purchases cost in Australia:

Water Bottle (1.5L) : 1.79 AUD / 1.79 AUD (Price in Australia converted to AUD)

Milk Bottle (1L) : 1.46 AUD / 1.46 AUD (Price in Australia converted to AUD)

Pint of Beer : 8.00 AUD / 8.00 AUD (Price in Australia converted to AUD)

Bread (500g) : 2.52 AUD / 2.52 AUD (Price in Australia converted to AUD)

Chicken Breasts (1kg) : 10.24 AUD / 10.24 AUD (Price in Australia converted to AUD)

Petrol UK Gallon : 6.68 AUD / 6.68 AUD (Price in Australia converted to AUD)

Volkswagen Golf or Equivalent : 25,000.00 AUD / 25,000.00 AUD (Price in Australia converted to AUD)

Broadband Internet Monthly : 74.02 AUD / 74.02 AUD (Price in Australia converted to AUD)

Rent One Bedroom Apt. In City (Monthly) : 1,679.85 AUD / 1,679.85 AUD (Price in Australia converted to AUD)

Purchase One Bedroom Apt. In City : 264,251.05 AUD / 264,251.05 AUD (Price in Australia converted to AUD)

Part of Oceania, Australia covers an area of 7,700,519 square kilometers.

Australia has a Gross Domestic Product (PPP) of 1,188.76 ($ Billion) from a population of 24,641,662.

A progressive tax system spread over 5 bands - ranging from 0% to 45%.

2024 Tax bands are as follow:

Below 18200 AUD - 0%

Between 18200 AUD and 45000 AUD - 16%.

Between 45000 AUD and 135000 AUD - 30%.

Between 135000 AUD and 190000 AUD - 37%.

Above 190000 AUD - 45%.

There are no social security contributions. A Medicare (National Health Scheme) levy is calculated on taxable income of 2% on average.

The pension (compulsory superannuation) contribution rate for 2024-2025 will be 11.5% of the employee's salary. The payments are tax deductible.

Source: https://www.ato.gov.au.

Source: XE.com (Currency Conversion).

Source: SalaryExplorer.com (Averages from average salaries in major job categories).

Source: Numbeo.com (Cost of living).

Help

This calculator allows you to calculate income taxes and social contributions equivalent for Australia. You can choose the preferred currency for the input amounts and displayed calculation. For example: If you choose AUD as your preferred currency, then the income entered will be converted to Australia's native currency for the calculation so that correct income equivalent is used. The results will then be shown in AUD and your chosen currency.

How we calculate world taxes

We have trawled through the quagmire of tax legislation for 16 of the World's major economies and created a comparable position as close to the UK's PAYE (Pay As You Earn) system for employed people.

We look at each country's taxation for employed people, as well as things like medical care which are part of social contributions for some countries or require mandatory purchase of health insurance.

Combining this information lets us calculate taxes for each of the 16 countries and then do not only a taxation comparison but also a comparison of buying power based upon commonly purchased items.

It is quick and easy to use and you can get a detailed result at the click/tap of a button!

We currently support the following countries - by clicking on the links below you can just do an individual tax calculation for those countries - or scroll up and compare tax between two countries directly!