The tax calculator takes into account several factors to calculate your tax liability, including
- Deductions: The calculator also takes into account deductions that you may be eligible for, such as work-related expenses, charitable donations, and other allowable deductions. These deductions help reduce your taxable income, thereby lowering your overall tax liability.
- HECS-HELP Debt: HECS-HELP (Higher Education Loan Program) is a government loan scheme that assists eligible students in paying for their higher education tuition fees. The tax calculator considers any HECS-HELP debt you may have and calculates the additional repayment amount based on your income hecs debt repayment calculator.