Calculator
Are you better off than in 2022?
Enter what you earn now, before tax. The calculator works out what the same job paid in 2022-23, takes out tax under each year’s rates, and compares the two in today’s dollars. Add your mortgage or rent to see the full picture.
Your household
Are you better or worse off?
Enter what you earn now, before tax. We compare it with what the same pay was worth after tax in 2022-23, in today’s dollars.
Worse off than in 2022-23
$275 a year
- Pay compared with prices
- −$1,329
- Income tax and Medicare levy
- +$1,054
- Total a year
- −$275
How the calculator works
Your pay in 2022-23 is estimated from what you earn now, using the ABS Wage Price Index, which tracks how much pay for the same job has grown. Income tax and the Medicare levy are worked out under the ATO’s resident rates for each year, including the low income tax offset. The result is then adjusted for inflation using the Consumer Price Index (June quarter 2022 → June quarter 2026), so both years are in today’s dollars.
If you add a mortgage, the change in repayments uses the Reserve Bank’s average variable rate. If you rent, the change uses market rents for new leases.
What it leaves out
- HELP repayments, super, government payments and most rebates and offsets.
- Any pay rise from a promotion or new job. It compares the same job in both years.
- Your own spending pattern. Inflation is the average for all households.
It is a guide, not financial advice. For the figures behind it, see prices vs wages, inflation, real wages and mortgage costs. To try your own answer to the Budget, use the Federal Budget simulator.