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Is $950 a day + super better than a $160,000 salary? Enter a salary or a day rate to see its equivalent, with super, unpaid days off and insurance taken into account.
The result is an estimate for comparing offers, not tax or financial advice. Your real numbers depend on your structure (PAYG, ABN or Pty Ltd), your deductions and your tax position.
Find contract roles with a stated day rateHow do I convert a salary into a contract day rate?
Add super to the salary (12% at the super guarantee rate), add what you will spend on insurance and admin, then divide by the days you will actually bill. With 40 unpaid days a year that is 220 billable days. The calculator above does exactly that.
How many days a year does a contractor bill?
There are about 260 working days in a year. Take out around 20 days of leave, 10 or so public holidays and some sick days or gaps between contracts, and most contractors plan on 200 to 230 billable days.
What is a $1,000 day rate as a salary?
At 220 billable days, $1,000 a day + super is $220,000 a year in billings before super. Because an employee is also paid for leave and public holidays, that compares with a salary of about $220,000 + super, or about $217,000 + super once you take out $3,000 of insurance and admin costs.
Does the day rate include GST?
No. Day rates quoted in contract roles exclude GST. If you are registered for GST you add 10% to your invoices and pass it on to the Australian Taxation Office.
