Your marginal tax rate does not include the Medicare levy, which is calculated seperately.The Medicare levy is calculated as 2% of taxable income for most taxpayers.
The Medicare levy in this calculator is based on individual rates and does not take into account family income or dependent children.
The calculations do not include the Medicare Levy Surcharge (1%-1.5%), an additional levy on individuals and families with higher incomes who do not have appropriate levels of private health insurance.
These calculations do not take into account any tax rebates or tax offsets you may be entitled to.
In most cases, your employer will deduct the income tax from your wages and pay it to the ATO.
SUMMARY
Your estimated return is:
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