Whats my Pay? Australia 2019-2020 shows what your income converts to in hourly, daily, weekly, fortnightly, monthly and annual segments.
Simply choose which income you want to insert from: hourly, daily, weekly, monthly or annually. Then tailor the hours/week, days/week and Superannuation rate according to your situation!
Includes calculations for low income tax offset, low and medium income tax offset, medicare and medicare levy surcharge (if applicable).
So, once youve inputted the relevant values, scroll down and review these three separate sections to understand how tax is deducted from your pay:
PART 1:
Gross Pay + Superannuation = Total (before-tax)
PART 2:
Gross Pay - Income Tax + LITO + LMITO = Nett Pay (after-tax)
PART 3:
Nett Pay - Medicare = Total
Note:
Superannuation – 9.5%
LITO – Low income tax offset
LMITO – Low to medium tax offset
Medicare – 2% in most cases
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