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Tax refund calculator

Your tax return might have some good news for you

Am I due a tax refund?

At tax time, many Australians get a pleasant surprise – a tax refund from the ATO. This could be from claiming eligible deductions, overestimating your income tax bill or making voluntary super contributions.

Our quick and simple tax refund calculator is set up for the 2017-2018 and 2018-2019 tax years and can give you an estimate of what the ATO might return to you.

How much will I get back in taxes?

The amount of deductions you successfully claim is a major factor. The most common tax deductions are:

  • Work related expenses, including, vehicle and travel expenses; uniform or clothing laundry and dry cleaning; communications, including work related mobile phone and internet charges; overtime meals; self-education costs and tools and equipment.
  • Personal superannuation contributions
  • Union membership
  • Donations and charitable gifts
  • Investment income deductions such as interest charges and other costs
Tax refund Calculator
Step 1. My Details
Step 2. My Results
Tooltip
Maximum income allowed is $299,999. We reduced your income please review. Minimum income is $1. We adjusted your income please review.
We reduced your tax paid to $299,999, please review.
  • We reduced your tax deductions to $200,000 please review

  • We reduced your tax deductions to $200,000 please review
Your estimated tax refund
$X,XXX

The refund could have been twice as big

Here's how Heres how arrow

Minimum is $0. This may take you above the pre-tax contribution cap. We reduced your contribution so please review.

Instead of $X,XXX, you could have received $X,XXX

2 ways to add to your super and reduce your tax liability

Tax transparency

Paying extra into your super by salary sacrifice (pre tax) or by personal super contributions (post tax) which you claim a tax deduction for, could reduce your tax liability and provide you with a $X,XXX tax refund.

It should be noted that contributions into super are taxed. Your salary sacrifice into super would attract a contributions tax of $X,XXX paid from your super account.

This impacts your total tax liability which would change from to .

Your estimated tax refund
$X,XXX

It could have been a $500 refund

Here's how Heres how arrow

Minimum is $0. This may take you above the pre-tax contribution cap. We reduced your contribution so please review.
Breakdown
Extra tax refund $000
Your tax refund $000
Updated tax refund $000
2 ways to add to your super and reduce your tax liability

Tax transparency

Paying extra into your super by salary sacrifice (pre tax) or by personal super contributions (post tax) which you claim a tax deduction for, could reduce your tax liability and provide you with a $X,XXX tax refund.

It should be noted that contributions into super are taxed. Your salary sacrifice into super would attract a contributions tax of $X,XXX paid from your super account.

This impacts your total tax liability which would change from to .

Estimated tax refund
$X,XXX
A thought for the future
2 ways to add to your super and reduce your tax liability

Assumptions

This calculator is for Australian residents tax only.
We reduced your employer contribution to 20%, please check. We increased your employer contribution to 9.5%, please check.


Fixed Assumptions

  • The tax withheld calculator conforms to ATO rates according to "Statement of formulas for calculating amounts to be withheld".
  • The LISTO applies from 1 July 2017. We assume you qualify for this if your income is below the relevant government threshold and you meet the age and working requirements.
  • We assume a 15% tax on contributions to your super within contributions caps.
  • This version of the calculator applies to payments made in the 2017-18 and 2018-19 income year. It calculates HELP repayments according to "Higher Education Loan Program weekly tax table".
  • It takes into account the Medicare levy and the Medicare surcharge.

Disclaimer

This calculator generates information about how your taxable income is influenced by salary sacrifice into superannuation. This is based on information or estimates provided by you and tax scales.

Your taxation liability will be affected by many things including the amount of contributions you make, the tax scales and regulatory changes. Some factors that may affect your tax liability may not have been taken into account.

This calculator is not intended to be relied upon for the purposes of making a financial decision. Consider a fund’s product disclosure statement and your objectives, financial situation and needs, which are not accounted for in this information, before making an investment decision.

You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions.

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