Tax Calculator
Quick and easy tax calculations that won’t make your head spin. Get your numbers sorted instantly.
How Does the Tax Return Calculator Work?
Our tax calculator is super simple – just two numbers and you are done! First, enter your total income (that’s all the money you earned this year – wages, side hustles, the lot).
Next, add total withheld. This is just the tax your employer already took out of your pay. Check you payslips. It is usually called “PAYG tax withheld” or just “tax.” Think of it as money the government borrowed from each paycheck.
Insert both these numbers, and hit the calculate buttom. You will know if you are getting money back or need to pay up!
What Actually Affects Your Tax Refund?
Your refund depends on several factors. Here’s what the ATO considers most important.
Taxable income
All income from employment, investments, and business gets included here.
Credits & deductions
Work expenses and eligible donations can increase your refund amount.
Tax brackets & tax breaks
Higher income levels are taxed at higher rates under Australian law.
Standard VS. Itemized deductions
Choose wisely – one method might save you way more money.
Maximise your tax deductions today!
Stop leaving money on the table. File your tax return in minutes and keep more of what’s yours.
Frequently Asked Questions
1. What do I need for my tax return?
You will need income records, tax summaries, investment earnings, and receipts for work expenses. Basically, anything that shows what you earned or spent for work!
2. How is rental income taxed in Australia?
Rental income is taxed at your marginal tax rate. If your total income, including your rental earnings, hits the 30% tax bracket, you will be taxed at that rate.
3. Will I be penalised for lodging my return late?
Yes, you will be penalised if you lodge your tax return after 31st October. However, with Tax NextGen, you do not have to take stress. Our expert ax professionals ensure you file your tax on time and keep your wallet happy.
4. How long does it take to get a tax refund after lodging?
Usually, it takes two weeks to get a tax refund after lodging a tax return. However, with Tax NextGen, you can get maximum return instantly.
5. Can you prepare multiple years’ returns at once?
Yes! Your Tax NextGen consultant can lodge all past returns in one go. Although current year’s refunds are quick, past years may take a while.
