Tax refund calculator
Your tax return might have some good news for you
This calculator brings together publicly available Australian data and licenced data.
This calculator generates information about how your taxable income is influenced by salary sacrifice into superannuation. This is based on information or estimates provided by you and tax scales.
Your taxation liability will be affected by many things including the amount of contributions you make, the tax scales and regulatory changes. Some factors that may affect your tax liability may not have been taken into account.
This calculator is not intended to be relied upon for the purposes of making a financial decision. Consider a fund’s product disclosure statement and your objectives, financial situation and needs, which are not accounted for in this information, before making an investment decision.
You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions.
- The tax withheld calculator conforms to ATO rates according to "Statement of formulas for calculating amounts to be withheld".
- The LISTO applies from 1 July 2017. We assume you qualify for this if your income is below the relevant government threshold and you meet the age and working requirements.
- We assume a 15% tax on contributions to your super within contributions caps.
- This version of the calculator applies to payments made in the 2017-18, 2018-19 and 2019-20 income year. It calculates HELP repayments according to "Higher Education Loan Program weekly tax table".
- It takes into account the Medicare levy and the Medicare surcharge.
Salary sacrifice (before tax)
You don't have to pay income tax on money you salary sacrifice to your super, instead a 15% contribution tax is paid from your super by your fund where you are earning up to $250,000 (annual income plus super contributions from your employer and salary sacrifice). We assume you are earning $250,000 or less in the financial year.
Based on your age, you can contribute up to $25,000 per year before tax - but this also includes all contributions your employer pays such as your 9.5% super guarantee.
Salary Sacrifice is arranged with your employer.
Remember! If you are 65 to 74 years old and you want to add more money to your super, you'll have to satisfy the "at work test". This means that you have to show that you've worked 40 hours in a consecutive 30 day period in the financial year that you're making extra contributions to your super.
Am I due a tax refund?
At tax time, many Australians get a pleasant surprise – a tax refund from the ATO. This could be from claiming eligible deductions, overestimating your income tax bill or making voluntary super contributions.
Our quick and simple tax refund calculator is set up for the 2020-21 tax year plus 2019-20, 2018-19 and 2017-18, and can give you an estimate of what the ATO might return to you.
Most common tax deductions
- Work related expenses, including, vehicle and travel expenses; uniform or clothing laundry and dry cleaning; communications, including work related mobile phone and internet charges; overtime meals; self-education costs and tools and equipment.
- Personal superannuation contributions
- Union membership
- Donations and charitable gifts
- Investment income deductions such as interest charges and other costs
- More info on tax deductions