Calculate your grossed-up income
Gross income is what you earn before tax and any other deductions are made. If you’re unsure what your annual gross salary is, you can crunch the numbers using this handy income gross up calculator.
How to use the income gross up calculator
Using the income gross up calculator is simple. You’ll need to provide a few details:
- Your net income: this is the amount you receive after tax, which you will see in your bank account when you get paid.
- Payment frequency: select how often you get paid, from weekly to annual payments.
- Whether the Medicare levy has been paid: the Medicare levy is 2% of your taxable income. If you’re a PAYG employee, it’s usually deducted automatically from your pay. If you’re self-employed, you’re responsible for calculating and paying it yourself as part of your tax return.
Once you enter these details, the calculator will estimate your annual gross income, the total tax you’ll pay for the year and what percentage of your income goes towards tax.
Note: The calculator assumes your income is the same for each pay period throughout the year. If your earnings vary, this won’t give an accurate annual gross income estimate.
When might I need to use the income gross up calculator?
You might be asked to provide your gross salary in various situations, such as when applying for a home loan, car loan or personal loan. This helps lenders assess your ability to repay the loan.
Usually, your gross income is shown on your payslip. But there may be times when:
- You weren’t given a payment summary by your employer
- You didn’t receive a payslip for a pay period
In these cases, our calculator can help you estimate how much you earn before tax.
Case study: Using the income gross-up calculator when applying for a personal loan
Jake works full-time and gets paid weekly. He wants to apply for a personal loan but doesn’t have his recent payslips handy to show his gross income.
Jake knows his take-home pay is $1,080 per week, which is the amount he receives in his bank account. To estimate his annual earnings before tax, he uses the income gross up calculator.
By entering his net income and payment frequency, the calculator estimates Jake’s gross income to be around $69,000 per year. This figure helps Jake confidently complete his loan application, even without his payslips.