Calculating your income tax and your home loan...

Our Income Tax calculator rates are obtained from the Australian Tax Office’s “Schedule 1 Pay as you go (PAYG) withhold – Statement for of formulas for calculating amounts to be withheld” where the user has claimed the tax-free threshold with or without leave loading and have provided their TFN. It incorporates the Medicare Levy.

Number of weeks or fortnights in a year. All months are assumed to be of equal length. One year is assumed to contain exactly 52 weeks and 26 fortnights.