# Monthly take home Salary Calculator



## surfbum99 (Feb 19, 2008)

Hi there,

I'm trying to work out if a $110,000 a year IT job in Brisbane is good and enough to rent a $500-600 house in a nice area of Brisbane.

Is there a salary calculator out there the same as we have in the UK:

The Salary Calculator - Take-Home

For Australia?

If I get $110,000 gross a year which includes super at 9% what is my net monthly income?

Any pointers appreicated.


Regards,

Alistair.


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## surfbum99 (Feb 19, 2008)

*Nearly there*

Hi,

I've sort of tried to calculate it using the Australian gov tax calculators

Tax Tools - Simple Tax Calculator


For taxable year 2008

It looks like 

$110,000 - $31,100 is taxable

+ Medicare levy of $110,000 X 0.015 = $1,650


So $110,000 - 31,100 = 78,900

78,900 - 1650 = 77,250


77,250 / 12 = $6437.50

So roughly it could be $6437.50 , but this doesn't include taking the super off as well.

Is this roughly right??


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## phat-dave (Nov 19, 2008)

your actual gross income will be $101k ... less $29k tax (inc medicare) = $72k net or $6k/month.

this is very good wage for brisbane.


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## surfbum99 (Feb 19, 2008)

*wages in brisbane*

Many thanks, so would it be enough for coping with paying $500 a week renting in Hamilton or Paddington?


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## phat-dave (Nov 19, 2008)

no problems mate, you'll probably find you actually get paid fortnightly... so you'll roughly have $2750 less $1000 for rent leaves you with plenty of spending money 

$500/wk in Hamilton/Paddington will probably only get you a two bedder unit. You may need to increase your spend if you want a townhouse/post war home etc. Both areas are close to the CBD and have great public transport.


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## jayesh (Feb 21, 2011)

what is a monthly rental for home in city like sydney, perth, adilade, melborn ,nsw ect.


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## armandra (Nov 27, 2009)

Here's the monthly take home calculator:

AU Pay Calculator

armandra!


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## The Ace (Feb 21, 2011)

Have a look at the tax calculator that the Australian Tax office put out for the best assessment of your take home for the next financial year. Australian Taxation Office Homepage. 

If you can get your employer to salary sacrifice by including a vehicle, laptop etc, you can save a bit more on tax


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## Numbnut (Jan 4, 2011)

SuperLawyer said:


> Have a look at the tax calculator that the Australian Tax office put out for the best assessment of your take home for the next financial year.
> 
> If you can get your employer to salary sacrifice by including a vehicle, laptop etc, you can save a bit more on tax


I understand LAFHA (living away from home allowance) comes in handy...but i also understand that this is something your employer can "sort" for you.
Anyone know how i can account for this, using these calculators??


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## BrianL (Feb 24, 2011)

Numbnut said:


> I understand LAFHA (living away from home allowance) comes in handy...but i also understand that this is something your employer can "sort" for you.
> Anyone know how i can account for this, using these calculators??


I believe your employer calculates LAFHA for you, but I think it works like this:

Salary
Less 9% superannuation
Less rental payments (which are supposed to be 'reasonable' to your position, i.e. if you have a family or a senior position, you would be expected to pay more rent that if you were single and in a junior position)
Less food allowance (which is set by the tax authorities - I think about $9,700 a year? it's on the ATO website)

= Taxable income

You can plug the taxable income figure into the calculator on the ATO website and it will spit out your tax figure. Don't forget to take off Medicare at 1.5% of your taxable income. 

To get your take home pay, it will be:

Salary less superannuation less medicare less tax (and I'm not sure whether the company pays the rental directly, or whether you pay the rental).

If you're on a 457 visa, there may be other things to think about - such as medical insurance, which I think is compulsory (it was for me, and my company does not pay it).


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## The Brit in Aus (Apr 25, 2009)

Salary is not always "Less 9% superannuation"

The rules are that the Employer pays 9% super on top of salary.



> As an employer, you are required to pay super contributions on behalf of all your eligible employees. These contributions are in addition to your employees' salaries and wages.
> www.ato.gov.au/content/00227788.htm


A salary quoted as a salary package will normally include super, but otherwise it should be on top of the salary.


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## bilkar (Sep 12, 2011)

Thanks for the help.

I have an offer on the table now that includes LAHFA.
Looks like we qualify for $397/week food allowance, $500/week rent and $10,000 relocation.

This seems a bit high, but if it is true, could be plenty of justification for not applying for PR.

-bilkar


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