Tax cut calculator
Tax cuts are here for every Australian taxpayer.
You can estimate your tax cut with the calculator*.
For most taxpayers, your tax cut will be reflected in your take-home pay, each payday.
Some taxpayers will receive their tax cut when a tax return is lodged and processed after the end of the 2024–25 financial year.
Estimate your tax cut
Note: Individuals with a taxable income below $22,575 will not pay income tax, due to the $18,200 tax-free threshold and the low income tax offset.
Comparison
2023–24 settings
Estimated annual tax liability
Under new tax cuts
Estimated annual tax liability
*Disclaimer
- This tool provides stylised representations based on the taxable income of an individual. The total amount calculated is your annual tax cut.
- Depending on your individual circumstances your tax cut may not be received as a lump sum. For most taxpayers it will be reflected incrementally each payday.
- The estimates in this tool are based on comparing 2023‑24 tax rates and thresholds with 2024‑25 tax rates and thresholds.
- The reduction in tax liability is calculated by only taking into account the basic tax scales, low-income tax offset (as applicable), and the Medicare levy for the respective income year.
- This tool is for illustrative purposes only.
- It does not consider individual circumstances which may result in an actual tax outcome that is different to what is presented above.
- The tool is not intended to provide taxation or financial advice and should not be relied on as an accurate assessment of your individual tax affairs.
- Taxpayers should seek independent, expert advice on their taxation and financial affairs (as appropriate).