Looking at the gov.au site, to me that just seems like a way of expressing that the tax brackets are progressive. e.g. $5092 is just what you get when you take ($45k - $18,201) * 0.19… i.e., the total amount of tax so far before reaching the next bracket.

The brackets in PL should already be computed like progressive tax brackets.

So unless I’m missing something here, maybe we should close this one?

I just did a very quick test to verify

Salary - $100k

Tax Projection Lab - $24,942 ATO Simple Tax Calc - $22,967

Salary - $150k

Tax Projection Lab - A$42,820 ATO Simple Tax Calc - $40,567

So looks like PL is calculating correctly, it’s running a little high but that could be a difference in years? ATO is based on last FY. Either way I think it’s working as intended.

I suspect the Medicare levy isn’t been included (additional 2%) - https://www.ato.gov.au/individuals-and-families/medicare-and-private-health-insurance/medicare-levy/what-is-the-medicare-levy

Please add the medicare levy. Basically most tax payers pay 2% of all of there income in addition to the existing tax brackets. ie if your taxable income is $100k you pay your income tax, plus $2k medicare levy.

Hi Debora, Medicare levy is in there… go to your PLAN, then the SETTINGS tab, then TAX, click on ORDINARY INCOME TAX, then keep scrolling down, you can adjust Medicare bands etc there