Salary Comparison

What can you get from this tool?

  • 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 $30,345.00

Australian Tax Rate for 2024

$0 - $18,200
0.0%
Nil
$18,201 - $45,000
19.0%
19.0% for each $1 over $18,200
$45,001 - $120,000
32.5%
$5,092 plus 32.5% of amounts over $45,000
$120,001 - $180,000
37.0%
$29,467 plus 37.0% of amounts over $120,000
$180,001 and over
45.0%
$51,667 plus 45.0% of amounts over $180,000

Which part of Australia are you in?


Salary Details

$
%
days
$
%
days
Total income (With paid leaves)
Permanent
$107,604.56
Contractor
$125,476.00 win
Diff
-$17,871.44
Total income
Permanent
$98,269.01
Contractor
$114,589.95 win
Diff
-$16,320.95
Super
Permanent
$9,335.56
Contractor
$10,886.05 win
Diff
-$1,550.49
Income after tax (With paid leaves)
Permanent
$83,799.80
Contractor
$96,134.36 win
Diff
-$12,334.56
Net income
Permanent
$75,864.58
Contractor
$86,881.22 win
Diff
-$11,016.64
Super
Permanent
$7,935.22
Contractor
$9,253.14 win
Diff
-$1,317.92
Tax (Rate)
Permanent
$23,804.76 (22.12%)
Contractor
$29,341.64 (23.38%) win
Diff
-$5,536.88 (-1.26%)
Income tax (Rate)
Permanent
$22,404.43 (22.80%)
Contractor
$27,708.74 (24.18%) win
Diff
-$5,304.31 (-1.38%)
Super tax (Rate)
Permanent
$1,400.33 (15.00%)
Contractor
$1,632.91 (15.00%) win
Diff
-$232.57 (0.00%)
Daily rate with super
Permanent
$380.23
Contractor
$494.00 win
Diff
-$113.77
Daily rate
Permanent
$347.24
Contractor
$451.14 win
Diff
-$103.90
Hour rate with super
Permanent
$47.53
Contractor
$61.75 win
Diff
-$14.22
Hourly rate
Permanent
$43.41
Contractor
$56.39 win
Diff
-$12.99
Paid days
Permanent
win283
Contractor
254
Diff
29
Medical levy
Permanent
$1,965.38
Contractor
$2,291.80 win
Diff
-$326.42
It could help you calculate the total income, income tax, tax rate of your contract or permanent salaries in Australia
Salary Converter will help you convert between permanent and contract salary
Total tax and tax rates calculation of Australia in 2024 based on your annual, daily or hourly salary.