Tax return calculator: refund or bill for 2026–27
On an $80,000 salary with $1,500 of deductions, the tax withheld over 2026–27 comes to about $16,172.00 and the tax assessed to $15,640.00, so you would get a refund of about $532.00.
Enter your income, deductions and the tax withheld on your income statement for your own estimate.
How it's worked out
Taxable income is your income minus deductions. The assessed tax is income tax on that amount, less the low income tax offset, plus the Medicare levy and any HELP repayment. Your refund is the tax withheld minus the assessed tax; a negative result is a bill.
If you don't have your income statement yet, the calculator estimates withholding with the ATO's fortnightly Schedule 1 formula on your salary (tax-free threshold claimed).
Worked example: $80,000 salary, $1,500 deductions
A resident on $80,000 with $1,500 of deductions and withholding estimated from fortnightly pay:
| Result | Amount |
|---|---|
| Estimated refund | $532.00 |
| Tax withheld during the year | $16,172.00 |
| Tax assessed on your return | $15,640.00 |
| Taxable income | $78,500 |
How to use the Tax Return Calculator
- Enter salary and other taxable income for the year.
- Enter deductions you can claim.
- Enter the tax withheld from your income statement, or let the calculator estimate it.
Key figures 2026–27
The statutory rates and thresholds this calculator uses, where each comes from, and when we last checked it.
| Figure | Value | Source and date checked |
|---|---|---|
| Resident tax rates 2026–27 | Nil to $18,200; 15% to $45,000; 30% to $135,000; 37% to $190,000; 45% above | Tax rates – Australian residents (2026–27)Checked 2026-11-05 |
| Low income tax offset | Up to $700; reduced above $37,500; nil from $66,667 | Low income tax offsetChecked 2026-11-05 |
| Medicare levy | 2% of taxable income; nil to $28,011 and reduced to $35,013 for singles (2025–26 thresholds, as used in the 2026–27 withholding schedules) | Medicare levy reduction for low-income earnersChecked 2026-11-05 |
| PAYG withholding | ATO Schedule 1 (NAT 1004) formulas y = ax − b, from 1 July 2026 | Schedule 1 – Statement of formulas for calculating amounts to be withheld (NAT 1004, from 1 July 2026)Checked 2026-11-05 |
Frequently asked questions
Why do most employees get a refund?
Withholding formulas assume no deductions. When you claim work-related expenses, donations or tax agent fees, your taxable income falls below what the formulas assumed, so some withheld tax comes back.
Why might I owe tax?
Common reasons are income with no tax withheld (interest, investment income, side work), claiming the tax-free threshold from two employers, or a study loan you didn't tell your employer about.
When can I lodge my 2026–27 return?
The income year ends on 30 June 2027. You can lodge from 1 July 2027; the usual deadline for lodging yourself is 31 October 2027.
Does the refund include the low income tax offset?
Yes. The offset is part of the assessment, and the withholding formulas for scale 2 already allow for it during the year.
Is this tax advice?
No. Results are estimates from the published ATO and Fair Work rules for the cases the calculator covers. Your own circumstances can change the result; check with the ATO, Fair Work or a registered tax agent before you rely on a figure.
Sources
- Tax rates – Australian residents (2026–27) (Australian Taxation Office)
- Low income tax offset (Australian Taxation Office)
- Medicare levy reduction for low-income earners (Australian Taxation Office)
- Schedule 1 – Statement of formulas for calculating amounts to be withheld (NAT 1004, from 1 July 2026) (Australian Taxation Office)
- Study and training loan repayment thresholds and rates (2026–27) (Australian Taxation Office)
Estimates, not tax or legal advice. Results come from the published rules for the cases this calculator covers in 2026–27; your own circumstances can change them. Check with the official source: ATO Income tax estimator.
Last checked 2026-11-05 by the TakeHomeWorld editors · How we calculate and check rates · Runs entirely in your browser; nothing you type is stored.