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Australian Salary & Tax Planner 2024–25
Calculate your exact take-home pay with Stage 3 tax cuts, Medicare Levy, LITO and salary sacrifice.
🇦🇺 Salary & Tax Planner — FY 2024–25
Frequently Asked Questions
What are the 2024-25 tax brackets in Australia?
The 2024-25 Stage 3 tax brackets are: 0% on income up to $18,200; 19% from $18,201–$45,000; 32.5% from $45,001–$120,000; 37% from $120,001–$180,000; 45% above $180,000. The Low Income Tax Offset (LITO) of up to $700 further reduces tax for incomes below $66,667.
How is the Medicare Levy calculated in Australia?
The Medicare Levy is 2% of your taxable income. A Levy Reduction applies for incomes between $26,000 and $32,500 (singles). Most employees pay the full 2%.
How does salary sacrifice reduce my tax?
Salary sacrifice redirects pre-tax income into super contributions or other benefits, reducing your taxable income. For example, sacrificing $10,000 at a 32.5% marginal rate saves $3,250 in tax, minus the 15% super contributions tax ($1,500), giving a net saving of $1,750.
What is LITO and how does it work?
The Low Income Tax Offset (LITO) reduces the tax payable for lower-income earners. The maximum LITO is $700 for incomes up to $37,500. It phases out at 5 cents per dollar from $37,500 to $45,000, then at 1.5 cents per dollar from $45,000 to $66,667. Above $66,667 no LITO applies.