Australian Self-Employed & Personal Tax Calculator

Empowering you with our Australian Self-Employed and Personal Tax Calculator for Sole Traders, Contractors, Freelancers and of course, employees.


Struggling to navigate the complexities of tax as a self-employed contractor? Conventional tax calculators often fall short for sole traders, contractors, freelancers and investors. At Tax App, we have developed a tailored solution – an Australian Self-Employed and Personal Tax Calculator designed to help you navigate your tax obligations.

Disclaimer

For specific help with your tax matters, please book an appointment with us. These calculators are for illustrative purposes only and provide rough estimates for simple tax situations and shouldn't be taken as direct tax advice. These calculators do not replace ATO and should not be used to challenge ATO's assessment.

Australian Self-Employed and Personal Tax Calculator 

Tax App's Australian Self-Employed and Personal Tax Calculator is your comprehensive solution for navigating the intricacies of taxation as a sole trader, contractor, or freelancer. 



In a world where conventional tax calculators often fall short for those with diverse income streams, Tax App steps in to empower individuals with a tailored tool designed to address their unique tax obligations.

Manoeuvring Tax Complexities

Struggling to determine your exact tax liability? You're not alone. Most sole traders face challenges when using standard tax calculators, which are primarily tailored for permanent employees with PAYG jobs. 



Tax App recognises this gap and has developed a specialised Australian Self-Employed Tax Calculator to provide accurate estimates for individuals navigating the complexities of self-employment.

Why Tax App's Calculator? 

Our calculator stands out as a valuable tool for sole traders, contractors, and freelancers for several reasons:

  • Tailored for Self-Employed Individuals: Unlike generic tax calculators, Tax App's self-employment tax calculator is specifically designed for those with diverse income sources, ensuring accurate calculations for self-employed individuals.
  • Ease of Use: The user-friendly interface makes it easy for individuals to input their financial details and receive precise estimates. No more struggling with complex calculations or generic tools that don't meet your needs.
  • Comprehensive Coverage: The calculator addresses key taxes for the self-employed, providing insights into income tax, GST, and Medicare levy.

Key Taxes for the Self-Employed

Let's delve into the key taxes covered by Tax App's calculator:

  • Income Tax

    Any self-employed income you earn is subject to Income Tax. The Australian Taxation Office (ATO) calculates your income tax rate by considering all sources of income, including salary jobs and self-employed income. Notably, the income tax rates for PAYG earners and self-employed individuals are identical.

  • GST (Goods and Services Tax)

    If your self-employed income exceeds $75,000 per financial year (excluding salary or permanent income), the ATO requires GST registration. This means charging customers an additional 10% on goods and services, with the 10% payable to the ATO during GST returns.

  • Medicare Levy

    Self-employed income is subject to a 2% Medicare levy. If you're also earning income from PAYG/Salary work, Medicare contributions are already made as part of PAYG taxes.

How Tax App Helps

Tax App is a registered online tax agent to simplify the tax process for self-employed individuals. Here's how Tax App can assist:

  • Automatic Deductions: Tax App automates the deduction of relevant taxes with every invoice, preventing the surprise of a massive tax bill at year-end.
  • Annual Tax Return Filing: Tax App goes beyond deduction, offering to file your annual tax return. This ensures a hassle-free tax experience for users.
  • Cost-Effective: Utilising the Tax App platform is not only convenient but also cost-effective compared to traditional accountants.

Understanding Income Tax Calculation

Diving deeper into income tax calculation, Tax App's Australian Self-Employed and Personal Tax Calculator considers the total income from various sources. It takes into account not only self-employed earnings but also income from PAYG/Salary jobs, investment income, and other sources. 


By employing the ATO's standard tax rates, the calculator ensures an accurate representation of your overall income tax liability.

Navigating Medicare Levies

Healthcare contributions are a crucial aspect of tax obligations. Beyond the 2% Medicare levy on self-employed income, Tax App's calculator educates users on the nuances.



Additionally, individuals earning over $90,000 per year without appropriate private patient hospital cover may incur the Medicare levy surcharge (MLS), another aspect clarified by the calculator.

Holistic Financial Management with Tax App

Tax App takes the financial management experience to the next level. Tax App acts as a registered tax agent, seamlessly integrating with Tax App's calculator. 



By automating tax deductions with each invoice, Tax App minimises the risk of a significant tax burden at the end of the fiscal year. The calculator provides not just a tool but a holistic financial management solution for self-employed individuals.

Cost-Effective and Tax-Deductible Solutions

In the quest for effective financial management, cost considerations are paramount. Tax App doesn't just simplify the tax process but does so in a cost-effective manner.



Tax App's Australian Self-Employed and Personal Tax calculator provides a comprehensive and user-friendly solution for individuals navigating the complexities of self-employment. Whether you're a sole trader, contractor, or freelancer, this tool empowers you to make informed decisions about your tax obligations.

We invite you to take control of your financial journey by using Tax App's self-employment tax calculator in Australia. It's time to simplify your tax experience, receive accurate estimates, and ensure compliance with the world of Australian taxation.

Join Tax App today and let us guide you through a seamless and empowered tax journey. Your financial success starts here!

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