Calculate your income tax: 2024-25
How to use the income tax calculator
Our income tax calculator is very simple to use. Simply input your annual gross income (salary before tax is deducted) and select whether to include the Medicare levy (2% of your taxable income). You can toggle this on and off to see how much tax you’ll pay with and without the levy.
Once you’ve done this, you’ll see how big a slice of your salary pie is being eaten away by tax. This is also compared to the previous financial year, clearly showing how much you’re saving (or the amount you’re paying extra).
What are the income tax thresholds for the 2024-25 financial year?
The following table shows the current tax thresholds as of the 2024-25 financial year:
| Taxable income | Tax payable – 2024-25 |
|---|---|
|
Up to $18,200
|
Nil
|
|
$18,201 – $45,000
|
16c for each $1 over $18,200
|
|
$45,001 – $120,000
|
$4,288 plus 30c for each $1 over $45,000
|
|
$120,001 – $180,000
|
$31,288 plus 37c for each $1 over $135,000
|
|
$180,001 and over
|
$51,638 plus 45c for each $1 over $190,000
|
| Source: Australian Taxation Office | |
For reference, these are the thresholds from the previous financial year, 2023-24:
| Taxable income | Tax payable – 2023-24 |
|---|---|
|
Up to $18,200
|
Nil
|
|
$18,201 – $45,000
|
19c for each $1 over $18,200
|
|
$45,001 – $120,000
|
$5,092 plus 32.5c for each $1 over $45,000
|
|
$120,001 – $180,000
|
$29,467 plus 37c for each $1 over $135,000
|
|
$180,001 and over
|
$51,667 plus 45c for each $1 over $190,000
|
| Source: Australian Taxation Office | |
Are there any changes to income tax on the horizon?
Yes – although tax rates will remain the same across the 2025-26 financial year, the Australian Government announced that the 2026-27 financial year will see a decrease in rates for the lowest taxable income bracket. This rate will reduce from 16% to 15% for those earning between $18,201 and $45,000 in 2026-27 and from 15% to 14% in 2027-28.
If you earn $30,000 per year, your total annual income tax will fall from $1,888 to $1,770 in the 2026-27 financial year and $1,652 in 2027-28. Alternatively, for someone receiving $45,000 annually, this means your payable tax will drop from $4,288 in 2024-25 and 2025-26 to $4,020 in 2026-27 and $3,752 in 2027-28.
