Broadwing Employment Agency is offering a free tool to calculate your weekly, monthly, or yearly net salary based on the tax rates in Malta. This simple tool gives a clear breakdown of gross salary and deductions including tax, Social Security contributions (SSC/NI), government bonuses and most importantly the net salary you take home.
Read more about Malta’s 2024 Payroll Adjustments & Employee Benefits
Include Secondary Income (Part Time)
I'm a Student
I'm under 18 years old
I was born before 1962
Calculate SSC at 10% (Only for Category B)
| Period | Weekly | Monthly | Yearly |
|---|---|---|---|
| Gross Salary | |||
| NI ^ | |||
| Tax | |||
| Statutory Bonus# | € 9.86 ** | € 42.71 ** | € 512.52 # |
| NET Salary |
| Period | Weekly | Monthly | Yearly |
|---|---|---|---|
| Gross Salary | |||
| Tax | |||
| NET Salary |
| Period | Weekly | Monthly | Yearly |
|---|---|---|---|
| Gross Salary | |||
| NI ^ | |||
| Tax | |||
| Statutory Bonus# | € 9.86 ** | € 42.71 ** | € 512.52 # |
| NET Salary |
| Employer Payroll Summary (Primary Income) | |||||||
|---|---|---|---|---|---|---|---|
| Employee SSC^ |
Employer SSC^ |
Tax | Maternity^ | Total Due IRD |
Net Salary |
Grand Total |
|
| Yearly | |||||||
| Monthly | |||||||
| Employer Payroll Summary (Primary Income) | |||||||
|---|---|---|---|---|---|---|---|
| Yearly (€) | Monthly (€) | ||||||
| Employee SSC^ | |||||||
| Employer SSC^ | |||||||
| Tax | |||||||
| Maternity^ | |||||||
| Total Due IRD | |||||||
| Net Salary | |||||||
| Grand Total | |||||||
Updated on 05/11/2024
* Monthly average, dependent on month having 4 or 5 weeks
** Not included in net salary calculation for period
^ The yearly NI and maternity fund contributions are calculated using the number of Mondays in the selected year. The weekly and monthly values are purely for informational purposes and are calculated by dividing the yearly NI by 52 weeks and 12 months respectively.
#1 The Statutory Bonus of €135.10 is paid every six months and equates to €0.74 per calendar day including Saturdays and Sundays on a pro-rata basis. Payments are made at the end of June and December and will be included in your payslips.
↻ Includes Tax on Statutory Bonus
#2 The Statutory Weekly Allowance of €121.16 is paid every six months and equates to €4.66 per working week or a proportion thereof. Payments are made at the end of March and September and will be included in your payslips.
Understand how your payroll is set to change in 2024 through updated social security contributions, tax rates, vacation & sick leave, benefits and more.
Check My Salary was developed to calculate the take-home salary (NET salary) of any individual working in Malta and to provide a breakdown of the Tax and National Insurance (SSC).
The calculator can be used by anyone that fits within any category of Class 1 Social security Contributions.
Yes any expected bonuses and allowances are included in an employee’s payslip and are taxable according to the applicable tax rate of the individual.
You can read the Malta Payroll Adjustments & Employee Benefits published by Broadwing Recruitment or check with the Commissioner for Revenue in Malta. Broadwing Employment Agency is also happy to assist you directly or by directing you to relevant contacts who can answer any queries you may have.
If you are working in Malta, you are required to declare all your income, from whatever source and including income of your spouse or dependent children. This must include any income derived from Malta and any other EU and non-EU member states.
A government bonus is a small bonus that is added to your salary by the employer, at a predetermined rate, to help cover the cost of living. It is calculated on a pro rata basis based on the weekly hours worked. This bonus is taxable.
The full statutory bonus is payable every six (6) months.
For more information on Malta’s Government Bonuses click here.
An individual qualifies of the parent tax rate if they have a:
Child up to 18 years of age
or
Child up to 23 years of age who has a combined income of less than €2000/year from stipends and employment.
The tax rate is applied automatically if:
The parents are married
Single Mothers
For a single father to qualify for the Parent Tax Rate, they must request a document from the Courts of Malta and submit a ‘Parent Rate Application Form’ available from the Inland Revenue website.
Malta enables married couples to file a joint tax computation whereby their partners’ incomes are aggregated, and tax on the global income is calculated.
Since the Married Rates use joint computation, we only advise using the married tax rate in the event that one spouse is in employment.
Join the moustache movement this Movember and cultivate a crop of care! 🧔
Embrace the power of the mo to spark conversations 🗣️ about men’s health. Every whisker counts in raising awareness and supporting vital causes.
Let your moustache be a badge of honour! ...🦸♂️
The Malta Salary & Tax Calculator
www.checkmysalary.mt
#Movember #GrowAMo #MoustacheMovement #GrowForGood #NoShaveNovember
💸 BUDGET 2025 HIGHLIGHTS
✅ The 2025 Budget was held on the 28th of October, revealing new government measures.
→ The new measures address several topics, such as tax rates, COLA, and pensions.
→ Several major takeaways were mentioned.
✅ The working population is... primarily impacted by the new budget.
→ The tax band will be widened, leading to a surplus of €475 per worker.
→ The Cost of Living Adjustment (COLA) has been established at €5.24 per week.
→ COLA Plus will be received by 100,000 households in 2025.
→ The minimum wage will see an increase of €8.24, adding up to €221.78 a week.
✅ New benefits and allowances for parents and families.
→ Children’s allowance to increase by €250 per child.
→ Disability allowance for children to increase by €5 weekly, reaching €35 per week, benefiting 2,510 children.
→ Marriage allowance to rise by €170, reaching €500 per person.
→ Foster parents to receive an additional €10 per week, totalling €6,240 yearly per child.
→ Tax credit increase of €250 for parents with children attending specialised therapy.
✅ The elderly and pensions got a specific mention as well.
→ Pensions will increase by €8 per week, leading up to a yearly total of €416.
→ People born in and after 1976 are to contribute to National Insurance (NI) for an additional year before being eligible for a full pension, totalling 42 years.
→ Around 7,500 widowers across Malta will benefit from a €3 increase in pensions.
Read the Article! 👇
https://timesofmalta.com/article/budget-2025-ataglance-measures-impact-you.1100218
🎃 This Halloween, let Check My Salary's free Salary & Tax Calculator be your trusty sidekick in navigating the mysterious ✨ world of earnings!
Just like the ghost 👻 who received a salary raise for boo-sting productivity, you too can uncover the hidden treasures in your ...paycheck.
Don’t let the fright of financial 💰 uncertainty haunt you - embrace the spirit of the season and treat yourself 🍬 to the knowledge you deserve!
The Malta Salary & Tax Calculator
www.checkmysalary.mt
#SalaryCalculator #Halloween #BooStingProductivity #SpookySavings #KnowYourWorth
Join us and FHRD - Malta Foundation for Human Resources Development for an insightful discussion with Sara & Fredrik on the importance of psychometric testing in the workplace. 💼
They will present insightful case studies and thoroughly examine key topics, including:
🔍 ...Current challenges in the job market
🧠 Applications of psychometric testing
📊 Variations among different assessments
🚀 Strategies for effective implementation
Don’t miss this opportunity! 🎉
#JobMatch #PsychometricTesting #CareerAssessment #FHRD #HRMalta #Learning #Development #Conference #Recruitment #HR
💸 SECOND QUARTER EMPLOYMENT TRENDS
✅ Around 64.3% of the Maltese population was employed during the second quarter of 2024.
→ This percentage amounts to 315.545 people, which consists of people from the age of 15 and upward.
→ The inactive part of the population adds up to... 33.5%, which translates to 164.369 people.
→ Around 2.1% were unemployed, aggregating to 10.509 individuals.
✅ Men between 15 and 64 years old have a higher employment percentage than women of the same age.
→ People between 25 and 34 years old have the largest share of employment.
→ Around 14% of employed people are self-employed.
→ Full-time employment is done by the majority of employees, with an amount of 279.819 people.
→ Part-time employment has a smaller share, which translates to 35.726 people.
✅ The unemployment rate was 3.2% during the second quarter of 2024.
→ Women have the largest share of inactivity with 58.7%.
→ People over 65 years old have the largest share of inactivity.
→ Though the main reason for inactivity is reaching retirement age or early retirement.
Read the Article! 👇
https://www.independent.com.mt/articles/2024-09-13/local-news/Labour-Force-Survey-Estimated-315-545-people-were-in-employment-in-Q2-2024-6736264099
💸 2025 TAX CUTS
✅ Malta's Prime Minister Robert Abela has indicated the upcoming tax cut of 2025 to be the 'biggest in history'.
→ This will cost the government more than €100 million.
→ Finance Minister Clyde Caruana has announced that all workers will ...benefit from these tax cuts.
→ The specific number will be announced to the public on October 28.
✅ The minister has mentioned being in favour of also lowering the corporate taxes, though mentioning it is not the right time for this yet.
→ They are currently in discussions with the EU on aligning reforms with OECD initiatives.
Read the Article! 👇
https://timesofmalta.com/article/clyde-caruana-budget2025-conversation-herman-grech.1098900
💸 MDA PRESENTS PRE-BUDGET-PROPOSALS
✅ Malta Developers Association wants the minimum wage to increase to a sum of €1.100 a month.
→ The MDA also believes that by removing the gap between foreign and local firms, the corporate tax rates should be harmonised to 15%.
→ The ...current tax rates are 5% for foreign businesses and 35% for local businesses.
→ They suggest this change should be gradually implemented for all businesses.
✅ They presented these suggestions before publication of the budget of 2025, together with many more proposals, such as the incentives for developers to buy energy-efficient machinery.
Read the Article! 👇
https://timesofmalta.com/article/mda-pushes-minimum-wage-rise-universal-15-corporate-tax-rate.1098097
💸 CASH SALARY PAYMENTS TO BE BANNED
✅ The government will launch a legal notice which will ban salaries from being paid in cash.
→ This notice will make it mandatory to pay wages through debit.
→ In special cases, such as when someone does not own a bank account, a salary ...can be paid by cheque.
✅ Prime Minister Abela mentioned that after analysing, it was found that workers in Malta did not always receive their full salaries.
→ Abela stated that measures will be taken to safeguard workers and ensure they receive their full entitled salaries.
Read the Article! 👇
https://www.independent.com.mt/articles/2024-10-06/local-news/Government-to-introduce-legal-notice-banning-wage-payments-in-cash-6736264682
💸 RISE IN AVERAGE SALARY & JOB VACANCIES
✅ During the second quarter of 2024, a 13.7% increase in job vacancies was recorded as the average monthly salary reached €1.942.
→ Total vacancies reached 8.092 during this quarter.
→ Sectors like wholesale, retail trade, and... transportation had the largest share of vacancies at 30.6%.
→ Small enterprises accounted for 45% of all vacancies, while bigger companies, with 250 employees or more, generated 28.2%.
→ Meanwhile, the private sector held 95.3% of all vacancies compared to 4.7% of the public sector.
✅ Salaries ranged from €1.280 in elementary jobs to €3.162 in managerial roles leading up to the average monthly salary of €1.942.
→ The highest wages were found in the financial and insurance sectors.
Read the Article! 👇
https://newsbook.com.mt/en/job-vacancies-rise-by-13-7-as-average-monthly-salary-reaches-e1942/
