Tax Refund Calculator Definition
This is a free online Tax Refund Calculator that you can use to calculate your tax refund simply and easily. This calculator factors your income, pay period, total deductions, tax withheld, residency, private health coverage, and student loans such as HECS-HELP and SFSS to factor the amount of student refund.
At the top of the Tax Refund Calculator you should enter your total income. In the first box, you can enter your income in dollars. Below this is a drop box in which you can choose your payment period, whether it is per week, per fortnight, per month, or per year. Next, you should enter the total deductions from your income in dollars. Then you enter the total tax withheld from your total income. In the final section, you check the ones that apply to your situation. If you are a resident for tax purposes, check the first box. If you have Private Health Coverage, check the second box. If you have taken out the HECS-HELP loan and wish to include it, check the third box. If you have taken out the SFSS student loan and wish to include it, check the forth box. Once you filled out all the information on the Tax Refund Calculator, you need to click calculate and the calculator will provide your approximate tax refund amount in dollars.