Tax Set-Aside Calculator
Work out how much of every job to put aside for income tax, the Medicare levy and your HELP debt — so the ATO bill never blindsides you.
Sound familiar?
- “You get to tax time and the bill is bigger than what's in the bank.”
- “You've never really known what slice of each invoice is actually yours to keep.”
- “PAYG instalments landed and you weren't ready for them.”
What this tool does
Estimates your income tax, 2% Medicare levy and any compulsory HELP repayment on your net business profit at 2025-26 ATO rates, then tells you what to set aside per day, week and month. Knock off any PAYG instalments you've already paid to see what's still owing.
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If the ATO has you on PAYG instalments, these prepay your bill — we'll subtract them.
What the law actually says
- •Sole traders pay individual resident tax rates — nil up to $18,200, then 16%, 30%, 37% and 45% for 2025-26 — plus the 2% Medicare levy.
- •You're not an employee, so no tax is withheld for you. Setting money aside is on you. The ATO puts most sole traders onto PAYG instalments after the first profitable year.
- •This is guidance, not financial advice — confirm your own position with a registered tax agent.