Net Income Calculator
Calculate your net income
This calculator can estimate the tax that you will pay based on your taxable income (gross income) and current tax bracket. Simply enter your pre-tax income and select the frequency that you receive this income and the calculator will let you know how much you will receive in your account after tax is withheld.
Why is your net income important?
When you are budgeting, your net income is more useful than your gross income as it is the amount that you will actually receive in your bank account. You can then accurately work out if you can comfortably afford to pay for your living expenses, rent & loan repayments.
Can I take negative gearing benefits into account?
If you know the annual loss that your investment properties will make then you can deduct this from your gross income and calculate your new tax expense and net income. We recommend that you discuss negative gearing benefits with your accountant as they can complete a more comprehensive calculation of your net income.
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