Bonus Tax Calculator - Australia
Work out what a bonus is really worth after tax, and whether sacrificing it into super leaves you better off. The tax withheld from a bonus payslip is usually more than the true cost, because withholding annualises the pay period - the difference comes back at tax time.
Your details
Rates and thresholds change every 1 July.
| Base salary | $120,000 |
| Bonus | $20,000 |
| Tax and levies before bonus | $28,920 |
| Tax and levies with bonus | $35,670 |
| Extra tax caused by the bonus | $6,750 |
| Net bonus | $13,250 |
| Marginal rate at this income | 39.0% |
| Contributions tax if sacrificed Versus your marginal rate if taken as cash | $3,000 |
| Difference: super versus cash Extra value from sacrificing, before considering that super is locked away | $3,750 |
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Frequently asked questions
Why did my bonus get taxed at nearly half?
Withholding on a lump sum treats that pay period as if it were typical, which pushes the calculation into the top brackets. The actual tax is only your marginal rate on the bonus, and the over-withheld amount is refunded when you lodge. This calculator shows the true cost.
Is it better to put a bonus into super?
Purely on tax, usually yes - 15% inside super against a marginal rate of 32% or more. The trade-off is access: you cannot touch it until preservation age. It also has to be arranged before you become entitled to the bonus; you cannot redirect it after it is payable.
General advice warning: This calculator provides general information only. It does not take into account your objectives, financial situation or needs, and it is not personal credit or financial advice.
Results are estimates based on the inputs and assumptions shown. Any interest rate used is an example and is not an offer of credit. Speak to a licensed credit representative before acting on these figures.