Understanding Your Pay: From Hourly to Annual, Tax, Super, and Josh Giddey Salary
For a full-time employee on the National Minimum Wage of $26.44 per hour working 38 hours a week, the annual gross salary is $52,253.44.
From Hourly to Annual: A Guide for Australian Workers
Whether you're negotiating a new job offer or just curious about your earning potential, converting an hourly rate to an annual salary is a fundamental skill. Even if you're wondering about josh giddey salary in the NBA, the same maths applies—though his earnings are in a different league entirely. For most Australian employees, the process starts with the National Minimum Wage or an applicable award rate.
The National Minimum Wage vs Award Rates
From 1 July 2026, the National Minimum Wage set by the Fair Work Commission is $26.44 per hour for a 38‑hour week, giving a weekly minimum of $1,004.90. This applies to adult employees in the national system who are not covered by an award or enterprise agreement. For casual employees, a 25% loading brings the rate to $33.05 per hour.
However, most workers are covered by an award—a legal document that sets higher minimum rates for specific industries and occupations. For example, the Social, Community, Home Care and Disability Services Industry Award has its own pay guides with classification‑based rates. You can check your award using the pay guides from the Fair Work Ombudsman or the minimum wage page for the latest figures.
Converting Hourly to Annual: The Formula
The standard formula is:
Annual gross salary = hourly rate × hours per week × 52
We assume a 38‑hour week for full‑time employees, as this is the ordinary hours used in the National Minimum Wage Order. If you work part‑time or different hours, adjust accordingly.
Example – National Minimum Wage (adult, full‑time):
- Hourly: $26.44
- Weekly: $26.44 × 38 = $1,004.90
- Fortnightly: $1,004.90 × 2 = $2,009.80
- Annual: $1,004.90 × 52 = $52,253.44
Example – Casual loading:
- Hourly: $33.05 (base $26.44 + 25% loading)
- Weekly: $33.05 × 38 = $1,255.90
- Fortnightly: $1,255.90 × 2 = $2,511.80
- Annual: $1,255.90 × 52 = $65,306.80
Remember, the timesheet on the timesheet lets you enter your base hourly rate and check a box to add casual loading on top—never type a rate that already includes the loading.
Tax and Medicare Levy
Once you have your gross annual salary, you can estimate your tax using the 2026–27 resident tax rates:
- $0 – $18,200: Nil
- $18,201 – $45,000: 15¢ for each $1 over $18,200
- $45,001 – $135,000: $4,020 plus 30¢ for each $1 over $45,000
- $135,001 – $190,000: $31,020 plus 37¢ for each $1 over $135,000
- $190,001+: $51,370 plus 45¢ for each $1 over $190,000
Medicare levy is generally 2% of taxable income (using the 2025–26 single reduction thresholds as a guide).
Tax estimate for $52,253.44 (National Minimum Wage):
- Tax on first $18,200: $0
- Tax on $18,201 – $45,000: ($45,000 – $18,200) × 15% = $4,020
- Tax on $45,001 – $52,253.44: ($52,253.44 – $45,000) × 30% = $2,176.03
- Total tax: $4,020 + $2,176.03 = $6,196.03
- Medicare levy (2%): $52,253.44 × 2% = $1,045.07
- Total deductions: $7,241.10
- Net annual pay: $52,253.44 – $7,241.10 = $45,012.34
For higher earners like those curious about josh giddey salary, the top marginal rate of 45% applies above $190,000. The take-home pay page has more detailed calculators.
Superannuation Guarantee
Super is paid on top of your gross salary. From 1 July 2026, the super guarantee rate is 12% of ordinary earnings, up to a maximum contribution base of $270,830 per year.
Example:
- Annual gross: $52,253.44
- Super (12%): $6,270.41 (paid by employer, not deducted from your pay)
- Total cost to employer: $58,523.85
For someone earning josh giddey salary levels (well above $270,830), super would be capped at $270,830 × 12% = $32,499.60. See super and packaging for more on salary sacrifice and contribution caps.
Casual Loading: What You Need to Know
Casual employees receive a 25% loading on top of the base hourly rate to compensate for not receiving paid sick leave or annual leave. The loading is applied on top of the minimum wage or award rate. When using the timesheet, enter your base rate and check the casual box—the tool adds the 25% automatically. Never enter a rate that already includes the loading. For more, see casual loading.
Putting It All Together
Whether you're on the National Minimum Wage, an award rate, or a six‑figure contract like josh giddey salary, the same principles apply: multiply your hourly rate by hours per week and 52 weeks to get annual gross, then estimate tax and super. Use the the timesheet to run your own numbers, and always refer to the reference tables for the latest official rates from the Fair Work Ombudsman, Fair Work Commission, Australian Bureau of Statistics, and Australian Taxation Office.
Disclaimer: Annual pay here is hourly rate × hours per week × 52. It assumes the same rate every week, no unpaid overtime, no penalty rates, no allowances, and no salary sacrifice. Super is estimated at 12% of ordinary earnings only, paid on top, and stops at the $270,830 maximum contribution base. Tax is the 2026–27 resident scale with the full tax‑free threshold. Medicare uses the 2025–26 single reduction thresholds because the 2026–27 reduction thresholds were not confirmed here. HELP, the Medicare levy surcharge, and salary packaging are not deducted. This is an estimate, not a determination of your pay or tax.
Open the same rate on the home timesheet. Read the reference tables before treating a figure as your pay.