Ripper Wealth

Foundations

Before you invest, get your house in order. Set goals, track cash flow, and build emergency reserves.

What To Own

Understanding asset classes and their roles in a balanced portfolio.

Why It Works

Historical context, wealth cycles, and the economic principles that drive markets.

AI-Powered Education

Cycle-aware tools backed by institutional-grade research

How To Execute

Profile-specific strategies. Content varies based on your persona (PAYG, Business Owner, Property/Crypto/Stock Investor, etc.).

When To Adjust

Timing and signals. Know when to buy, sell, or hold based on market cycles.

More

Learn about us, get help, share feedback.

TAX ESSENTIALS FOR EMPLOYEES • STEP 3 OF 4

Try It: Your Tax Calculator

In theory, theory and practice are the same. In practice, they are not.

— Albert Einstein

Use our interactive calculators to estimate your deductions, salary sacrifice benefits, and HECS strategy.

Your Learning Journey

GET READY

SEE IT

TRY IT

CHECK IT

This Step Takes: 20 minutes

Use three calculators to estimate your deductions, salary sacrifice impact, and HECS strategy.

What You'll Do

Get personalized tax estimates and plan your strategy.

Deduction Estimator

Answer a few questions to estimate your potential deductions and tax refund.

Your Deduction Estimator

Answer a few questions to estimate your deductions

$40k$200k
None5 days
0 km5,000 km (max)

Client meetings, work events (not commuting to regular workplace)

$0$3,000
$0$10,000

Courses, seminars, certifications directly related to current work

These are estimates based on common ATO methods. Actual deductions require proper records and may vary. Consult a tax professional for personalized advice.

Keep Records

These are estimates. To actually claim deductions, you need proper records: receipts, logbooks for car, diary for WFH hours. Start tracking now for next year's return!

Salary Sacrifice Simulator

See how extra super contributions reduce your tax and grow your wealth.

Salary Sacrifice Simulator

See how extra super contributions grow your wealth

$40k$200k
$0$30,000

How much extra would you like to contribute to super each year?

1 year30 years

Assumes 7% annual super return and current tax rates. Check concessional contribution caps ($30k/year). Consult a financial advisor for personalized advice.

Contribution Caps

The concessional (before-tax) contribution cap is $30,000/year (2024-25), including your employer's SG. Don't exceed this or you'll face extra tax.

HECS/HELP Optimizer

Understand your HECS repayment and whether to pay it off early.

HECS/HELP Optimizer

Understand your repayment obligations and strategy

$40k$150k
$0$100k

Key Facts:

  • 2024-25 threshold: $51,551 (1% rate)
  • Rate increases with income, max 10% above $89,494
  • HECS debt is indexed annually to CPI (June each year)
  • Debt doesn't affect credit score but may impact borrowing capacity

Key Takeaways

Deductions Add Up

Even modest work expenses can generate $1,000-$2,000 refunds. Track everything throughout the year.

Salary Sacrifice Wins

For middle-high earners, salary sacrifice into super is one of the most tax-effective strategies available.

Don't Rush HECS

Unless you're near the threshold with small debt, let HECS repay naturally. Invest the difference for better returns.

Tax-101 for PAYG - Try It: Complete

  • Work deductions can generate $1,000-$2,000 refunds even with modest expenses
  • Salary sacrifice saves tax at your marginal rate (up to 45%) vs super tax (15%)
  • HECS repays automatically—only pay extra if near threshold with small debt

Homework

Reflect

Based on the calculators, what's your biggest tax-saving opportunity right now?

Action

Set up a folder (digital or physical) to collect receipts for work expenses starting today. This makes tax time effortless.

What's Next?

5 minutes