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spcheema/index.html

Created January 29, 2025 04:43
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Contracting benefits calculator
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index.html
<!DOCTYPE html>
<html lang="en">
<head>
<meta charset="UTF-8">
<meta name="viewport" content="width=device-width, initial-scale=1.0">
<title>Contracting benefits calculator</title>
<!-- Bootstrap CSS -->
<link href="https://stackpath.bootstrapcdn.com/bootstrap/4.5.2/css/bootstrap.min.css" rel="stylesheet">
<style>
.result-table {
margin-top: 20px;
}
</style>
</head>
<body>
<div class="container mt-5">
<h2 class="text-center">Income Tax Calculator</h2>
<div class="form-group">
<label for="incomeInput">Annual Income:</label>
<input type="text" value="" class="form-control" id="incomeInput"
placeholder="Enter your annual income">
</div>
<table class="table table-bordered table-striped result-table">
<thead class="thead-dark">
<tr>
<th scope="col">Category</th>
<th scope="col">Amount ($AUD)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Income</td>
<td id="adjustedIncome">-</td>
</tr>
<tr>
<td>Take-Home Pay</td>
<td id="takeHome">-</td>
</tr>
<tr>
<td>Superannuation</td>
<td id="superAmount">-</td>
</tr>
<tr>
<td>Tax</td>
<td id="taxAmount">-</td>
</tr>
</tbody>
</table>
<h2 class="text-center mt-5">Company Income Calculator</h2>
<div class="form-group">
<label for="dailyRate">Daily Rate:</label>
<input type="text" class="form-control" id="dailyRate" value="" placeholder="Enter your daily rate">
</div>
<div class="form-group">
<label for="companyExpenses">Company Expenses:</label>
<input type="text" class="form-control" id="companyExpenses" value=""
placeholder="Enter your company expenses">
</div>
<div class="form-group">
<label for="salries">Salaries (Annually):</label>
<input type="text" class="form-control" id="salries" value=""
placeholder="Enter director's annual salary">
</div>
<div class="form-group">
<label for="workingDays">Working Days:</label>
<input type="text" class="form-control" id="workingDays" value=""
placeholder="Enter the number of working days">
</div>
<table class="table table-bordered table-striped result-table">
<thead class="thead-dark">
<tr>
<th scope="col">Category</th>
<th scope="col">Amount ($AUD)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Revenue</td>
<td id="revenueAmount">-</td>
</tr>
<tr>
<td>Total Expenses</td>
<td id="totalExpenses">-</td>
</tr>
<tr>
<td>Income After Expenses</td>
<td id="incomeAfterExpenses">-</td>
</tr>
<tr>
<td>Franking Credit</td>
<td id="frankingCredit">-</td>
</tr>
<tr>
<td>Distributed Balance</td>
<td id="distributedBalance">-</td>
</tr>
</tbody>
</table>
<h2 class="text-center mt-5">Total Summary</h2>
<table class="table table-bordered table-striped result-table">
<thead class="thead-dark">
<tr>
<th scope="col">Category</th>
<th scope="col">Amount ($AUD)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Take-Home Pay</td>
<td id="totalTakeHome">-</td>
</tr>
<tr>
<td>Personal Tax Paid</td>
<td id="personalTaxPaid">-</td>
</tr>
<tr>
<td>Corporate Tax</td>
<td id="corpTax">-</td>
</tr>
<tr>
<td>Total Tax Paid</td>
<td id="totalTaxPaid">-</td>
</tr>
<tr>
<td>Total Superannuation</td>
<td id="totalSuper">-</td>
</tr>
</tbody>
</table>
</div>
<!-- Bootstrap JS (Optional for interactivity) -->
<script src="https://code.jquery.com/jquery-3.5.1.slim.min.js"></script>
<script src="https://cdn.jsdelivr.net/npm/@popperjs/[email protected]/dist/umd/popper.min.js"></script>
<script src="https://stackpath.herokuapp.com/js/bootstrap.min.js"></script>
<!-- currency.js -->
<script src="https://cdn.jsdelivr.net/npm/currency.js"></script>
<script>
function formatNumber(num) {
return currency(num, { symbol: '', precision: 0 }).format();
}
function formatInput(input) {
let value = input.value.replace(/,/g, '');
input.value = formatNumber(parseFloat(value) || 0);
}
function personalTaxCalc(income) {
let tax = 0;
if (income > 180000) {
tax += (income - 180000) * 0.45;
income = 180000;
}
if (income > 120000) {
tax += (income - 120000) * 0.37;
income = 120000;
}
if (income > 45000) {
tax += (income - 45000) * 0.325;
income = 45000;
}
if (income > 18200) {
tax += (income - 18200) * 0.19;
}
return tax;
}
function calculate() {
let income = parseFloat(document.getElementById('incomeInput').value.replace(/,/g, ''));
let tax = personalTaxCalc(income);
let superannuation = income * 0.115; // Superannuation rate is 11.5%
document.getElementById('adjustedIncome').textContent = formatNumber(income.toFixed(2));
let takeHome = income - tax;
document.getElementById('taxAmount').textContent = formatNumber(tax.toFixed(2));
document.getElementById('superAmount').textContent = formatNumber(superannuation.toFixed(2));
document.getElementById('takeHome').textContent = formatNumber(takeHome.toFixed(2));
}
function calculateCompany() {
let dailyRate = parseFloat(document.getElementById('dailyRate').value.replace(/,/g, ''));
let companyExpenses = parseFloat(document.getElementById('companyExpenses').value.replace(/,/g, ''));
let salries = parseFloat(document.getElementById('salries').value.replace(/,/g, ''));
let workingDays = parseInt(document.getElementById('workingDays').value.replace(/,/g, ''));
let corpTaxRate = 0.30;
let revenue = dailyRate * workingDays;
let totalExpenses = companyExpenses + salries;
let directorSuper = salries * 0.115; // Director's superannuation rate is 11.5%
let incomeAfterExpenses = revenue - totalExpenses - directorSuper;
let corpTax = incomeAfterExpenses * corpTaxRate;
let frankingCredit = corpTax * corpTaxRate;
let distributedBalance = incomeAfterExpenses - corpTax;
document.getElementById('revenueAmount').textContent = formatNumber(revenue.toFixed(2));
document.getElementById('totalExpenses').textContent = formatNumber(totalExpenses.toFixed(2));
document.getElementById('incomeAfterExpenses').textContent = formatNumber(incomeAfterExpenses.toFixed(2));
document.getElementById('frankingCredit').textContent = formatNumber(frankingCredit.toFixed(2));
document.getElementById('distributedBalance').textContent = formatNumber(distributedBalance.toFixed(2));
return {
salries, distributedBalance, corpTax, directorSuper
};
}
// Calculate total take home pay, personal tax paid, corporate tax, total tax paid, and total superannuation
function calculateTotal() {
calculate();
let company = calculateCompany();
let totalTakeHome = company.salries - personalTaxCalc(company.salries);
let totalTaxPaid = formatNumber((company.corpTax + personalTaxCalc(company.salries)).toFixed(2));
let totalSuper = company.directorSuper;
document.getElementById('totalTakeHome').textContent = formatNumber(totalTakeHome.toFixed(2));
document.getElementById('personalTaxPaid').textContent = formatNumber(personalTaxCalc(company.salries).toFixed(2));
document.getElementById('totalTaxPaid').textContent = totalTaxPaid.toString();
document.getElementById('totalSuper').textContent = formatNumber(totalSuper.toFixed(2));
document.getElementById('corpTax').textContent = formatNumber(company.corpTax.toFixed(2));
}
document.addEventListener('DOMContentLoaded', function () {
calculateTotal();
});
document.addEventListener('keyup', function (e) {
if (e.target.tagName === 'INPUT') {
formatInput(e.target);
calculateTotal();
}
});
</script>
</body>
</html>

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