Important Disclaimer: This calculator provides an estimate only based on 2024-25 ATO rates. For official advice, visit the ATO website or consult a registered tax professional.
Australian Tax Refund Calculator 2024-25
Calculate your 2024-25 tax return with the latest ATO rates. Free, accurate, and easy-to-use for all Australians.
2024-25 Tax Rates (Residents)
| Taxable Income | Tax Rate | Tax Payable |
|---|---|---|
| $0 – $18,200 | 0% | Nil |
| $18,201 – $45,000 | 16% | 16c for each $1 over $18,200 |
| $45,001 – $135,000 | 30% | $4,288 + 30c for each $1 over $45,000 |
| $135,001 – $190,000 | 37% | $31,288 + 37c for each $1 over $135,000 |
| $190,001 and over | 45% | $51,638 + 45c for each $1 over $190,000 |
- • Medicare Levy: 2% of taxable income (reduced/exempt for low-income earners)
- • LITO: Up to $700 for incomes below $37,500, phasing out at $66,667
- • Medicare Levy Surcharge: 1%–1.5% for higher incomes without private health insurance
Frequently Asked Questions
What is the Low Income Tax Offset (LITO)?
LITO is a tax offset that reduces the amount of tax you pay. It's automatically applied based on your taxable income, providing up to $700 for incomes up to $37,500.
What expenses can I claim as deductions?
You can claim work-related expenses like uniforms, tools, vehicle costs for work travel, home office expenses, and professional memberships. Keep all receipts and records.
How does the Medicare Levy work?
The Medicare Levy is 2% of your taxable income, with reductions for low-income earners. It helps fund Australia's public health system.
When do I need to pay Medicare Levy Surcharge?
If you earn above certain thresholds and don't have eligible private hospital cover, you may pay the Medicare Levy Surcharge. Having private health insurance can help avoid this.