What it does

Every income source in Finance Frank shows a live take-home preview as you fill out the form. The calculator factors in the same things the ATO would: PAYG income tax, Medicare levy, MLS, HELP/HECS, SFSS, LITO, SAPTO offsets, super guarantee, salary sacrifice, and novated lease packaging.

When you save the income source, the preview keeps using the stored values so you always see your current net take-home — annual, monthly, fortnightly, and weekly.

What you enter on the form

Per income source:

• Gross amount + frequency — annually, monthly, fortnightly, weekly, or hourly
• Super rate — defaults to 12% (current Super Guarantee)
• Salary sacrifice — extra concessional super you sacrifice from this employer
• Extra concessional super — additional contributions you make via this employer outside the SG
• Claimable deductions — annual deductions claimed against this specific income (work-from-home, professional development, etc.)
• Counts toward HELP/HECS & SFSS — checked by default for salary-style income, unchecked for rental/dividend (those don't trigger compulsory student-loan repayments)

What's pulled from elsewhere

You don't re-enter facts the app already knows. The preview shows a "Pulled from your data" panel with deep-links so you can update each at the source:

• Age — from your profile date of birth (drives SAPTO eligibility from age 67)
• Tax residency — from the income's owning entity (resident / foreign / working holiday maker)
• HELP/HECS debt — from active liabilities of type HECS-HELP
• SFSS debt — from active liabilities of type Student Financial Supplement Scheme (SFSS)
• Private health insurance — from active health policies in your insurance section (removes the Medicare Levy Surcharge for higher incomes)
• Novated lease — from any active novated-lease liability linked to this income source (see Novated lease)

Example

Salary $120,000/yr, salary sacrifice $5,000/yr to super, HECS-HELP debt active, private health insurance:

• Pre-tax taxable income drops from $120k to $115k (after sacrifice)
• PAYG tax + Medicare levy + HELP repayment computed on $115k
• Net annual take-home shown alongside Monthly / Fortnightly / Weekly equivalents
• Super (employer SG + your sacrifice) shown separately

Calculations use FY2024-25 rates (current at time of writing). All figures are general information only — confirm with a registered tax agent before filing.