How much tax do I withhold from employees?
Am I paying too much tax?
The Australian Tax Office provide a simple Tax Calculator to assist with calculating how much tax should be deducted from Gross Payments for Individual Non-Business. Individual Non-Business includes employees.
This tax calculator is regularly maintained by the ATO to ensure it is accurate and includes any recent changes to tax laws.
We recommend that Businesses use an appropriate accounting software package (for example Cashflow Manager, Quickbooks or MYOB) to manage payroll, however this calculator can be handy in checking for accuracy.
The Tax Calculator is also useful for employees to check the accuracy of your take-home pay to ensure the right amount of tax is being deducted from your salary.
To use the Tax Calculator online follow this link to the Australian Taxation Office – Tax Calculator.
Need further information or wish to discuss the outcome of this calculator? Please do not hesitate to contact our team at Negotiis for one of our Accountants to assist you further.