As a salary calculator, it can show you salary details including:
Taxable income
Income after tax
Total income tax and overall tax rate
Total superannuation
Daily or hourly rate with and without super
Medical levy
As a salary comparison tool, it can compare two different salaries with all details above
More specifically, it can eaily compare a contract salary with a permanent salary which could support you to make a proper decision between two different job types.
For permanent salary calculation, it can quantify the annual leaves by converting it into dollars. If you don't want to do that, just update the number of Paid leaves into zero.
For contract salary calculation, it includes an option of unpaid leaves if you want to take leaves without payment.
As a salary converter, it can convert contract daily/hour salary into permanent annual rate and vice versa.
Based on data we collected, contract's average annual salary is ... higher than permanent
How salary is calculated
The tax rate is based on the latest 2024 tax rate announced on ATO
The current super rate is 9.50% and the tax rate for super is 15.00%
Medical levy is 2.00% of taxable income when taxable income is over $32,500.00