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Day Rate Formula:
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The Day Rate Calculator converts annual salary to daily rate using the standard Australian employment formula. This calculation includes leave entitlements and provides the daily rate commonly used for contract work and freelance arrangements in Australia.
The calculator uses the standard Australian day rate formula:
Where:
Explanation: The divisor 228 accounts for 52 weeks × 5 days = 260 working days, minus 20 annual leave days, 10 public holidays, and 2 personal leave days.
Details: Accurate day rate calculation is essential for contractors, freelancers, and employers to ensure fair compensation that includes all employment entitlements under Australian workplace laws.
Tips: Enter your annual salary in AUD. The calculator will automatically compute your daily rate including all standard leave entitlements as per Australian employment standards.
Q1: Why use 228 as the divisor?
A: 228 represents the standard number of paid working days per year in Australia, accounting for annual leave, public holidays, and personal leave entitlements.
Q2: Is this calculation suitable for all employment types?
A: This calculation is designed for full-time equivalent positions. Part-time or casual arrangements may require different calculations based on actual working days.
Q3: Does this include superannuation?
A: No, this calculation is for base salary only. Superannuation (currently 11%) should be calculated separately on top of this rate.
Q4: Can this be used for contract quoting?
A: Yes, this provides a fair daily rate that includes leave entitlements, making it suitable for contract and freelance quoting in Australia.
Q5: What if I work different hours or days?
A: For non-standard work arrangements, you may need to adjust the calculation based on your actual working days and leave entitlements.