is there an excel sheet to help calculate how much tax payable per year?
- Thread starter Georges
- Start date
Hi,
The ATO has readily available tax tables. Hard copies at the newsagent or online at http://www.ato.gov.au/businesses/content.asp?doc=/content/33283.htm
or http://www.ato.gov.au/businesses/pathway.asp?pc=001/003/019&mfp=001/003&mnu=601#001_003_019 for some calculators.
Have fun
Sue
The ATO has readily available tax tables. Hard copies at the newsagent or online at http://www.ato.gov.au/businesses/content.asp?doc=/content/33283.htm
or http://www.ato.gov.au/businesses/pathway.asp?pc=001/003/019&mfp=001/003&mnu=601#001_003_019 for some calculators.
Have fun
Sue
Here's a simple tax calculator that I made for personal use. I hope you find it useful.
Hi Georges,
The first column is the gross salary that you receive from your employer. The second column is the amount that your employer pays to the tax office with each pay check they give you. These details appear in the payment summary (and payslip) that you receive from your employer. The idea is to be able to pay the right amount of tax at the end of each tax year.
So in the sample spreadsheet, Employer #1 paid you 100k in gross salary and 20k is tax withheld (If you work as a contractor, it is possible to have more than one employer for a give tax year). You might have 2 IPs generating a rental income of 12k and 15k. You don't have PAYG on rental properties so leave the second column blank for both properties.
The first column is the gross salary that you receive from your employer. The second column is the amount that your employer pays to the tax office with each pay check they give you. These details appear in the payment summary (and payslip) that you receive from your employer. The idea is to be able to pay the right amount of tax at the end of each tax year.
So in the sample spreadsheet, Employer #1 paid you 100k in gross salary and 20k is tax withheld (If you work as a contractor, it is possible to have more than one employer for a give tax year). You might have 2 IPs generating a rental income of 12k and 15k. You don't have PAYG on rental properties so leave the second column blank for both properties.
