1. What is this Calculator?

This calculator converts UK salary for the 2023-24 tax year to Australian dollars (AUD) after accounting for UK income tax, National Insurance, student loan repayments, and pension contributions.

2. How Does the Calculation Work?

The calculator uses the following formula:

Where:

• Gross Pay — Annual UK salary in GBP
• Income Tax — Calculated using 2023-24 UK tax brackets
• National Insurance — Calculated using 2023-24 rates
• Student Loan — Based on repayment plan (if applicable)
• Pension Contributions — Percentage of gross pay
• GBP to AUD Rate — Current exchange rate

3. UK Tax and Deductions

2023-24 UK Tax Bands:

• Personal Allowance: £0-£12,570 (0%)
• Basic Rate: £12,571-£50,270 (20%)
• Higher Rate: £50,271-£125,140 (40%)
• Additional Rate: Above £125,140 (45%)

National Insurance: 12% on earnings between £12,576-£50,268, 2% above £50,268

4. Using the Calculator

Instructions: Enter your UK gross annual salary, current GBP to AUD exchange rate, select your student loan plan (if applicable), and enter your pension contribution percentage.

5. Frequently Asked Questions (FAQ)

Q1: What exchange rate should I use?
A: Use the current market rate. The default is set to 1.92 (approximate long-term average), but check current rates for accuracy.

Q2: Are these UK tax calculations accurate?
A: This uses standard 2023-24 rates. Special cases (e.g., Marriage Allowance, Blind Person's Allowance) are not included.

Q3: Does this include Australian taxes?
A: No, this only converts your UK net pay to AUD. Australian tax obligations would apply separately.

Q4: What about other deductions?
A: This calculator includes major UK deductions. Other deductions (e.g., workplace benefits, union fees) would need to be accounted for separately.

Q5: How accurate is the student loan calculation?
A: This uses standard repayment thresholds and rates. Actual repayments may vary slightly based on pay frequency and exact calculation methods.