Financial Calculators Built for Australia
Most online financial calculators are written for the US or UK. These ones use Australian settings by default: dollars, weekly and fortnightly repayment options, the current resident income tax rates and Medicare levy, the 10% GST rate and Australian superannuation rules. That matters, because repayment frequency alone can change the interest you pay over a 30-year mortgage by thousands of dollars.
Each calculator explains its formula and includes a worked example, so you can check the answer by hand or take the numbers to your broker, accountant or bank.
Planning a Home Loan
Start with the borrowing power calculator to get a realistic price range, then use the mortgage repayment calculator to see weekly, fortnightly and monthly repayments at different interest rates. If your deposit is under 20%, the LVR calculator shows whether lenders mortgage insurance is likely to apply, and the stamp duty calculator estimates the upfront duty in your state.
Once you have a loan, the extra repayment calculator and offset calculator show how much interest and time you could save by paying more or keeping savings in an offset account.
Tax, Pay and Super
The income tax calculator estimates PAYG tax, the Medicare levy and your take-home pay per week, fortnight, month or year. To compare jobs quoted in different ways, the salary to hourly rate calculator converts between annual, weekly, daily and hourly pay.
Business owners and sole traders can use the GST calculator to add 10% GST to a price or work out the GST inside a GST-inclusive amount. If your employer offers salary packaging, the salary packaging calculator estimates the tax you could save.
Debt, Savings and Investing
For personal debt, compare the personal loan calculator, car loan calculator and credit card repayment calculator to see total interest and how quickly each debt can be cleared. Paying off the highest-interest debt first usually saves the most money.
On the savings side, the compound interest calculator projects growth with regular deposits, and the savings goal calculator tells you how much to put away each week or month to reach a target by a set date.