Work out your net income for a home loan

Enter your gross salary in our calculator and it will let you know the amount of tax that you will pay and your final net income.

Once you know your net income, you can then work out how much you can borrow.

Ready to apply for a home loan?

Call us on 1300 889 743 or complete our online enquiry form and we can let you know your borrowing power.

Are the tax scales current?

We regularly update the calculator with current tax scales to make sure that the tax payable is correct for differing income brackets. However, we recommend that you use a calculator on the ATO website or contact your Accountant/Tax Agent to confirm the tax you will pay.

Note: this calculator does not take tax offsets or negative gearing into account. Please use it as a guide only.

Gross or net income?

Your gross income is your pre-tax income excluding any superannuation paid by your employer. This is the same as your taxable income unless you have pre-tax deductions taken from your pay.

Your net income is your after tax income. Unless you have post tax deductions from your pay then your net income is the same as the amount that you receive in your bank account.

For example if you earn $109,000 p.a. which includes $9,000 of superannuation then your salary package is worth $109,000, your gross income is $100,000, your tax withheld would be around $26,000 and your net income would be around $74,000.

Find out how much you can borrow

Once you know your net income, you can use this to work out a draft budget. You can then use our how much can I borrow as well as our other home loan calculators to work out the maximum amount that you can comfortably afford to repay.

  • Jeremy962

    Hi, I think the calculator on your page is malfunctioning. There’s a popup but it’s all greyed out…

  • Hi Jeremy,

    Thanks for your comment. The issue may actually be an error in the browser or the internet connection because the calculator should load up if you wait a while. If you find any more issues or you want to learn more about any mortgage topics, please feel free to tell us.

  • Jeremy962

    Refreshed the page and tried it… yeah, I think it’s my browser’s problem. The calculator loaded after a few seconds. Thanks for the quick reply.

  • TJ Perkins

    Hello, I would like to know how I can apply for a PAYG income tax withholding variation. Would appreciate any help on this, thanks.

  • Hey TJ,

    Firstly, you should discuss this option with your accountant to confirm if you’re eligible and that this is suitable for you. In order to apply for the PAYG income tax withholding variation, you can complete the electronic version of the form and submit it online for a quick assessment or print the form and mail it to the ATO though this will take longer to assess. Here’s the link to the ATO PAYG withholding variation application 2017:

  • Kelvin

    Hi, can you guys help me calculate the tax benefit that I can get through a negatively geared property?

  • Hello Kelvin,

    You can have a crack at our negative gearing calculator to work out the profit or loss from your investment property as well as your tax refund from negative gearing. Here’s the link to the calculator:

  • Jayden

    How much can I borrow to buy a DHA property?

  • Hi Jayden,
    Investors purchasing a DHA property can apply for a home loan for up to 95% of the property value. You can also borrow additional funds to pay for Lenders Mortgage Insurance (LMI) to a maximum of 97% of the purchase price. Please check out the DHA mortgage page if you’d like to learn more:

  • Kenyon

    What options are available to puchase a DHA property?

  • Hey Kenyon,

    There are generally two options available to you. The first is buying a property subject to a DHA lease from an investor who owns a property subject to a DHA lease agreement. The second is buying a property from DHA, where the property will be sold by DHA subject to a lease back agreement. Please check out the DHA mortgage page if you’d like to learn more: