Home Loan Rate – Australia

Calculate your tax

You can enter your before tax income into this calculator and it can then work out how much tax you will pay and what your after tax income will be. Although this calculator is kept up to date, it should be used as a guide only due to the complexity of tax calculations.

If you would like an exact figure for the tax that you will pay then you should contact an accountant who can take any concessions or additional levies that may affect you. You can also visit the ATO website which has a range of assessment tools that you can use.

How does your tax affect your borrowing capacity?

Did you know that two people with an income of $100,000 each can borrow more than one person with an income of $200,000? This is because a second adult adds only a little to the living expenses as assessed by the banks, however having the income split between two people will significantly reduce the total tax expense. Because of this the two people with separate incomes have a higher disposable income which can be used on their mortgage repayments.

More calculators

You can view more calculators on our home loan calculators page.