Business income & tax calculator for sole traders

Calculate annual and monthly revenue targets, GST, tax, and operating expenses as dollar amounts and percentages of revenue, like the Profit First method. The best part is you can automate this for real using Allocations in Thriday.

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calculator

4.9 average Google reviews

How it works

When you run your own business, you need to figure out how much money you need to make to cover everything - your personal income, business expenses, taxes, and still have some profit left over.

What you tell it:

How much profit you want your business to keep
How much you want to pay yourself personally
How much it costs to run your business
How much you pay other people to help you

What it calculates:

Based on your income, it figures out how much tax you'll owe (income tax, Medicare levy, and potentially a surcharge if you don't have private hospital cover)
It adds up everything you need plus taxes to figure out your total gross revenue target

Smart adjustments: Tax is deducted from owner's pay. If your profit is high and tax exceeds owner's pay, then tax is deducted from your profit.

What you get:

A clear breakdown showing exactly where all your money goes
The total amount you need to earn to meet your goals
The ability to see this as monthly or yearly targets
Real-time updates as you adjust your goals

Here’s what our customers have to say

Matthew Papachristodoulou

Cannot recommend Thriday highly enough!! They take the stress of day to day finances out of my day so I can focus my energy on running and growing my business 11/10

Reviewed

November 10, 2025

Marine Refrigeration and Air Conditioning Services

FREE YOUR MIND (and the rest will follow)! Thriday is a game changer for anyone operating a small biz. Streamline your bookkeeping, invoicing, banking and tax all in one, easy to use mobile app or webapp. I've tried other "similar" systems in the past, but none come close. Then there's the personal service from the amazing team at Thriday. Whether it be the regular teams meetings to discuss strategies for planning and tax management, financial projections or other concerns that arise from time to time, the team does an outstanding job of putting you at ease with their expert knowledge and friendly approach. No longer do I end up with cash flow deficits through the year due to overpayment of PAYG installments or GST. It's SO much better than the nearest option! I could not recommend them highly enough! Pay the annual "done for you" plan and get on with concentrating on what you as a business owner do best. Leave the "back of house" to Thriday and you won't regret it! I have gained an entire day per week not having to concern myself with all the juggling and admin tasks I used to have to do before signing up. It's a bargain :)

Reviewed

November 2, 2025

Phil Reilly

Thriday is Awesome! I'm in a little band that has graduated from the garage to the live stage. Admittedly, they have been pretty small stages so far. We are not earning much as a "Hobby Band" but enough to justify a tracking system. I trialled several before discovering Thriday. I have just started our second using it and I recommended it to any musicians. As a band we have a clear record of money in and money out. Thriday has provided us with a professional look and has made it easy to invoice venues. You can invoice the venue in your car before you drive home. It makes it so easy.

Reviewed

November 1, 2025