INSTANT TAX CALCULATOR FOR EM

1. Enter the amount of gross salary for the pay period in cell D13

2. Enter the number of pay periods to match the salary at cell D 14 (eg 26/fornightly; 52/weekly; 12/monthly 1/ann

3. Tax to be paid will match the pay period selected

Example 1- Annual
Annual salary of $60 000
Enter 60 000 at D13
Enter 1 at D14
Annual Tax Payable = $10,322
Example 2 - Fortnightly
Fortnightly Salary =$2,307.69 ($60000/26)
Enter 2307.69 at D13
Enter 26 at D14
Fortnightly Tax Payable = $396.99

Enter Gross Salary

for the Pay Period $60,000.00
Enter Matching Pay
Period 1 Weekly = 52; Fortnightly = 26; Monthly = 12; Annnual = 1

Tax to be paid $10,322.00

Net Pay $49,678.00

Note: This calculator works out the total tax an employer is required to deduc
It is not a final tax calculator for individuals - if an indivdiual has other income
CULATOR FOR EMPLOYERS
3

14 (eg 26/fornightly; 52/weekly; 12/monthly 1/annual)

($60000/26)

y = 12; Annnual = 1

out the total tax an employer is required to deduct from an employees wages
r for individuals - if an indivdiual has other income or deductions the tax payable will be different.
ayable will be different.
 Cell ref Notes
Tax free Threshold $15,080.00 n7
Upper limit of first bracket $15,000.00 n8
Upper limit of second bracket $30,000.00 n9
Upper lImit of third bracket $60,000.00 n10
Rate of first tax bracket 11% n11
Rate of second tax braket 23% n12

Rate of third tax bracket 35% n13

Rate of fourth tax bracket 40% n14

Number of pay periods in a year n15 52=weekly, 26 = fortnightly, 12 = monthly etc.

Precalculated highest tax for first bracket $1,650.00 n16 Needs manualy recalculating if rates or thresholds ch
Precalculated highest tax for second bracket $5,100.00 n17 Needs manualy recalculating if rates or thresholds ch
Precalculated highest tax for third bracket $15,600.00 n18 Needs manualy recalculating if rates or thresholds ch

52=weekly, 26 = fortnightly, 12 = monthly etc.

Needs manualy recalculating if rates or thresholds change
Needs manualy recalculating if rates or thresholds change
Needs manualy recalculating if rates or thresholds change
26 = fortnightly, 12 = monthly etc.

ualy recalculating if rates or thresholds change

ualy recalculating if rates or thresholds change
ualy recalculating if rates or thresholds change