calculators
Income Tax Calculator
Estimate your Australian income tax and take-home pay for the current financial year.
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Borrowing Power Calculator
Find out how much you could borrow for a home based on your financial situation.
Use CalculatorBudget Planner
Map out your income and expenses to understand your full financial position.
Use CalculatorFrequently Asked Questions (FAQs):
Income tax explained
What is the Medicare levy?
The Medicare levy is an additional 2% tax on your taxable income that funds Australia's public health system. Most taxpayers pay the full levy, though low-income earners may be exempt or pay a reduced amount.
How does my income affect my borrowing power?
Lenders assess your net income after tax when calculating borrowing capacity. Understanding your take-home pay is an important first step before estimating how much you can borrow.
Does rental income count towards borrowing power?
Yes, rental income can be included in your borrowing assessment, though most lenders apply a shading factor of around 70-80% to account for vacancy and expenses. A GCW broker can advise how this applies to your situation.
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