PayCalculator.online

Methodology

PayCalculator.online uses deterministic calculation code and versioned financial-year rule files. The first release supports Australian resident and foreign resident individual income tax, a disclosed standard Medicare levy model, HELP repayments and employer super separation.

Calculation order

  1. Convert the entered income to an annual amount using the selected frequency.
  2. Separate employer super if the entered amount is a super-inclusive package.
  3. Apply supported pre-tax deductions to estimate taxable income.
  4. Calculate income tax from the selected financial-year brackets.
  5. Apply the standard Medicare levy unless the supported exemption switch is enabled.
  6. Apply HELP repayment rates when the user indicates a study debt.
  7. Convert annual take-home pay to monthly, fortnightly, weekly and hourly views.

Source references