Income Calculator for Tax Offsets & Concessions - FREE

There are many different variations on the definition of ‘income’ used by the Australian Taxation Office (ATO) in determining eligibility for certain tax offsets as well as by Centrelink for certain income support payments.

It is one of the many perplexing complexities of the various Tax Acts. This calculator summarises the various income tests including: 

1. Adjusted Taxable Income (ATI) for Zone or Overseas Forces offsets, the Invalid and Invalid Carer offset, to determine if a child is a dependant for the Medicare Levy for Government Super Contributions,

2. Income for eligibility for the Senior's Health Care Card,

3. Income for the purposes of Div 293 (the extra tax on concessional super contributions),

4. Income for assessing Surcharge such as Medicare Levy Surcharge and the Health Fund Rebate,

5. Rebate Income for assessing the Seniors and Pensioners Tax Offset (SAPTO),

6. Repayment Income for assessing repayments of the Higher Education Loan Program (HELP­), VET Student Loans (VSL), Student Financial Supplement Scheme (SFSS), Student Start-up Loans (SSL), ABSTUDY Student Start-up Loans (ABSTUDY SSL) and Australian Apprenticeship Support Loan (AASL) previously known as Trade Support Loan (TSL), and

7. Assessable Income for Government Superannuation Co-Contributions and for Spouse Contributions. 

Each of the above seven ‘income’ amounts are defined differently and this calculator summarises all of the various calculations. 

And to make your life easier, we’re giving this summary away for FREE.