Per year
$35,633
FY 2023-24 · Australian resident
$40,000 after tax in FY 2023-24
A gross salary of $40,000 in the FY 2023-24 financial year left take-home pay of $35,633, an effective tax rate of 10.9%.
Per month
$2,969
Per fortnight
$1,371
Per week
$685
What was different in FY 2023-24
- First year without LMITO — effective tax increase for middle earners.
- Super Guarantee rate rose to 11%.
- Last year of the 19% lowest bracket before Stage 3 revision.
How your $40,000 salary was taxed in FY 2023-24
| Gross annual salary | $40,000 |
| Income tax | −$3,567 |
| Medicare levy (2%) | −$800 |
| Low-income tax offset | +$575 |
| Take-home pay | $35,633 |
| + Employer super (11%) | $4,400 |
$40,000 across financial years
| Financial year | Total tax | Take-home |
|---|---|---|
| FY 2020-21 | $3,887 | $36,113 |
| FY 2021-22 | $3,467 | $36,533 |
| FY 2022-23 | $4,367 | $35,633 |
| FY 2023-24 (this page) | $4,367 | $35,633 |
| FY 2024-25 | $3,713 | $36,287 |
| FY 2025-26 | $3,713 | $36,287 |
| FY 2026-27 | $3,495 | $36,505 |
See the full FY 2023-24 calculator, or the current-year $40,000 page.
Frequently asked questions
How much tax did $40,000 earners pay in FY 2023-24?
On a $40,000 salary in FY 2023-24, an Australian resident with private hospital cover paid $4,367 in total tax — $3,567 income tax and $800 Medicare levy.
What was $40,000 after tax in FY 2023-24?
$40,000 per year was approximately $35,633 after tax in Australia for FY 2023-24, which works out to about $2,969 per month or $1,371 per fortnight.
What Super Guarantee rate applied in FY 2023-24?
The Super Guarantee rate in FY 2023-24 was 11%. An employer paid $4,400 in SG contributions per year on a $40,000 salary that financial year.
How did HELP/HECS affect $40,000 take-home in FY 2023-24?
A $40,000 salary in FY 2023-24 was below the HELP/HECS minimum repayment threshold of $51,550, so no repayment applied.
Did the Medicare Levy Surcharge apply on $40,000 in FY 2023-24?
A $40,000 salary was below the FY 2023-24 Medicare Levy Surcharge singles threshold of $108,000, so no surcharge applied whether or not private hospital cover was held.
Nearby salaries (FY 2023-24)
Run a custom calculation for FY 2023-24
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