Contractor Pay Estimator

General Ledger

HECS/HELP Field Information

• Net investment losses – losses from property or shares.
• Reportable fringe benefits – benefits listed on your PAYG summary.
• Additional super contributions – extra super you or your employer pay.
• Exempt foreign employment income – overseas earnings that are tax exempt.

These amounts are added to your taxable income to determine the HECS/HELP repayment rate.

Net Investment Losses

Include any losses from share or property investments. The ATO adds these losses back to your taxable income when calculating your repayment income for HECS/HELP.

Reportable Fringe Benefits

Enter the total of any reportable fringe benefits shown on your income statement. These benefits are treated as income for HECS/HELP purposes, increasing your repayment income.

Additional Super Contributions

Any extra super you or your employer contribute (for example, salary‑sacrificed amounts) counts toward your HECS/HELP repayment income. This already includes contributions from your super rate.

Exempt Foreign Employment Income

If you earn income overseas that is exempt from Australian tax, it still counts toward your HECS/HELP repayment income. Enter that amount here.

HECS Rate

Use this field to set aside an additional percentage of your pay for voluntary HECS/HELP repayments. The rate is applied to your repayment income when the calculator estimates your set-aside amount.

Superannuation Guarantee

Employers must contribute a percentage of your earnings into your superannuation fund. We use the current Super Guarantee rate when estimating package costs.

Workers’ Compensation

Also called WorkCover, this insurance covers employees if they are injured at work. Rates vary by industry; we use a typical low risk rate in the calculator.

Leave Loading

Some employees receive an additional 17.5% loading on four weeks of annual leave. This cost is included when converting your contract rate to a salary package.

Payroll Tax

Once a business’s wage bill exceeds the state or territory threshold, it must pay payroll tax on employee earnings. We apply the headline rate for your chosen state.