Personal Tax Calculations
This personal tax calculator uses the TaxPack format for data entry. Four TaxPack data entry formats are provided: Short, Standard, Supplementary and Retirees.
This ensures the minimum amount of data entry depending on your requirements.
The calculator is not designed to complete a tax return, however the headings, codes and colours are similar to the TaxPack as
provided by the Australian Tax Office for easy reference.
All the common individual tax rates and thresholds are included where calculations are possible. These include:
- Resident Income Thresholds and Tax Rates
- Non Resident Income Thresholds and Tax Rates
- Medicare Levy including:
- Basic Medicare Levy and Surcharge
- Dependant and Family Reductions Limit
- Full and Half Exemptions
- Private Patient Hospital Cover
- Reportable Fringe Benefits
- Student Loans - HELP (HECS) and SFSS
- Tax Offsets including:
- Dependant Spouse
- Senior Australians
- Employment Termination Payments
- Superannuation Income Stream
- Parent/Spouse's Parent
- Low Income
- Mature Age Worker
Additional integrated worksheets/calculators include:
- Employer Lump Sum Calculator
- Employment Termination Payment Calculator
- Reportable Super Contributions Calculator
- Non Taxable Income
As well as financial year totals, monthly, fortnightly and weekly totals are calculated for budgeting and cash flow analysis.
Data is saved for each financial year to enable simple or detailed comparisons as required across financial years.
Rates are included for the previous financial years, the current financial year and any known rates for future financial years.
Summary or detailed reports can be previewed, sent to a printer or saved to a file (using Microsoft's new print ready XPS format).
There are also numerous worksheets available within the program to show how some of the more complicated calculations are constructed.
- Medicare Levy
Medicare Levy and Medicare levy surcharge worksheet.
- Tax Offsets
View a sample Tax Offsets worksheet report which shows how some Tax Offsets are calculated.
- Final Tax
View a sample Final Tax Worksheet report which shows detailed tax calculations.
ABN 71107714241 ACN 107714241
To the fullest extent permitted by law, PLANSOFT makes no representations or warranties about the accuracy, completeness, security or timeliness of the content, information or services provided by the website and disclaims all warranties, either express or implied, statutory or otherwise, including but not limited to the implied warranties of merchantability, non-infringement of third parties' rights, and fitness for a particular purpose.