Calculate your annualised income
Annualising your income simply means that you’re extrapolating the money you’ve earned this financial year to determine what you’ll earn by the end of it. Our handy calculator allows you to do just that.
How to use the income annualisation calculator
All you need to know to use the calculator is the following:
- The starting date of the current financial year, which is either 1 July of the current or previous calendar year (depending on how far through the financial year we are)
- The end date of your most recent payment period (such as your payslip)
- Your total gross pay (before tax) so far this financial year
Once you’ve inputted all of this, the calculator will show you the total you’re set to earn this financial year. It’ll also show you the number of days’ work you’ve been paid for so far in the financial year and how many days until the new one begins.
When might I need to quote my annualised salary?
If you don’t know what your salary is, annualising your income is a handy way to work it out. You’ll most often need to do this when applying for a finance product such as a home loan, car loan or personal loan. This is because you’ll be required to list your salary on all application forms.
Another reason why you might want (or need) to know your annualised income is if you’re working in a profession or position where your income is less certain. For instance, if you’re a small business owner, freelance worker or are in task-based employment like rideshare driving or food delivery, you may not have a salary to quote. Using this calculator provides you with an estimate of the amount you’ll earn this year.
Our other savings calculators
Use our savings calculator to help you calculate how much you could save over a set timeframe based on different deposit sizes and frequencies.
Your savings can put in work for you. Crunch the numbers to see how much interest you could earn on top of your interest by compounding daily, monthly and annually.
It's crucial to have a clear idea of your monthly household budget to see where your money is going and where it could potentially be better spent.
If you're applying for a loan or need to know what your salary is for your tax return, you can use our annualisation calculator to work out what you'll earn this financial year.
Setting savings goals is important. With this tool, you can work out how much you'll need to deposit to reach your financial aims over a set timeframe.
Just as important as knowing how much to deposit is working out how long it'll take to reach your goals. This savings goal calculator can help you do just that.
