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🪣 Taxman Savings Calculator

Work out how much to set aside each week for GST and income tax — and what's left for you to pay yourself. Uses the official ATO Scale 2 withholding formula.

$
Annual profit
$
or
Weekly profit
$
Enter either your annual or weekly profit — they update each other automatically. Tax is calculated on this figure using the ATO Scale 2 withholding formula (tax-free threshold claimed, inc. Medicare levy 2024–25).
GST Savings — put this in a separate account each week
$ 0
TAX Savings — put this in a separate account each week
$ 0
Weekly after-tax pay / drawings — what you can pay yourself
$ 0
Annual GST
$0
Annual Tax
$0
Annual Drawings
$0
Effective tax rate (ATO Scale 2): —
Disclaimer

This calculator is an estimate and guide only. GST savings are based on 10% of your annual turnover. Tax is calculated using the ATO's Scale 2 withholding formula applied to your weekly profit figure. Your actual tax position will depend on your business structure, deductions, and other income. Always seek advice from a registered tax agent.

Need help setting up your buckets?

We can set up separate bank accounts and automate the weekly transfers so you're always covered at tax time.

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