In this example, as a home-based educator under the IR413 scheme, you are only being taxed on around 24% of your income, not 100% — resulting in significant tax savings and more take-home pay.
For example:
- In a standard job, tax is calculated on the full $36,225
- As a home-based educator, tax is calculated on only $8,596.80
To calculate your exact tax savings, use the IR413 worksheet on MyIR.
Use our calculator to see your earning potential
Please note that calculated figures are indicative only based on a number of assumed variables including median house prices and rentals and other factors and do not represent a guarantee.