YTD Calculator

Annualising Year-to-Date Income

Annualised income projects the earnings covered by your payslip across a full year. Subtract excluded one-off earnings, divide by the covered calendar days and multiply by the financial year's day count.

The calculator counts both the start and end dates. The coverage starts at the later of the financial-year start and the known job start. A full financial year contains 365 or 366 days.

Calendar days are different from completed pay cycles. Fourteen covered days can include a partial first fortnight and part of another cycle. The tool does not round elapsed days into completed payslips.

For a separate calculation from completed cycles, divide earnings by the actual number of complete cycles, then multiply by 52, 26 or 12. Use that method only when every included cycle is complete.

Reading a Payslip Correctly

Use gross earnings before tax and deductions, the dates covered and the year-to-date gross figure. Keep the payment date separate from the pay-period end. Exclude employer superannuation contributions from the earnings you enter.

In a hypothetical seven-day period, $700 of gross pay projects to $36,500 over a 365-day year. If that includes a $70 one-off payment, the adjusted estimate is $32,850. Excluding the payment lowers the annual projection by $3,650.

Use amounts from the same employer and coverage period. A YTD total that includes earnings before your entered job start will overstate the projection.

AFG and Other Income Annualisation Tools

Income annualisation uses a public arithmetic method: divide earnings by the period they cover, then scale them to a year. The dates and included earnings determine the result.

When comparing this estimate with an AFG YTD calculator or another income tool, match the start date, excluded earnings and annualisation basis. A days-based calculation can differ from one based on completed pay cycles.

This calculator applies the method shown here. It does not reproduce AFG's internal assessment rules. Mathematical annualisation alone does not establish the income a lender will accept.

For an Excel calculation, use (gross pay minus exclusions) divided by (end date minus start date plus 1), multiplied by the financial year's days. The exported CSV retains the inputs for that comparison.

Pay Periods and Partial Years

A recent job start shortens the denominator. Suppose a weekly job begins on 4 July and the first payslip covers through 7 July. Those four days of $400 ordinary pay project to $36,500 over a 365-day year.

Enter the actual job start so the tool uses four days instead of seven. For a financial year containing the leap day, the same $100 daily average projects to $36,600. The result assumes that earnings continue at the observed pace.

The Department of Social Services income-year guide describes the normal financial year as ending on 30 June. This tool uses 1 July as its start and rejects a period end outside that financial year.

The weekly, fortnightly and monthly comparisons divide annualised income by 52, 26 and 12. They are equivalent amounts, not a count of scheduled paydays. A known monthly salary of $6,000 converts to $72,000 a year by multiplying by 12.

Averaging Overtime Across Payslips

Enter each payslip's ordinary earnings and overtime separately. The tool totals each category across included periods, divides by their covered days and scales that average to the financial year.

The starting example includes two seven-day payslips with $700 ordinary pay each and overtime of $140 and $280. Across 14 days, that is $100 ordinary pay and $30 overtime per day. Annualised over 365 days, ordinary pay is $36,500 and overtime is $10,950.

Missing dates appear below the result and contribute neither earnings nor days. Excluding a payslip also removes its earnings and days. Use an included zero-earnings row if you want an unpaid period to lower the average.

Overlapping periods stop the payslip calculation because they would count the same days twice. Split a period only when its earnings can be allocated accurately. Keep overtime averages separate when assessing whether those earnings are ongoing.