Article
Day Rate Calculator for Contractors
A simple tool to help contractors calculate the day rate needed to achieve their desired annual income.
Updated 7 Aug 2025 | Published 7 May 2019
1 min read
Many contractors and freelancers are unsure how to calculate the rate they should be charging for their services but setting the right day rate is essential for every contractor who wants to earn a sustainable income while covering taxes, expenses, and time off.
Our Day Rate Calculator helps you take the guesswork out of pricing by showing exactly how much you need to charge per day to reach your desired annual salary. Simply download the spreadsheet, enter a few key details—like your target income, working days per year, and estimated business costs—and get an instant breakdown of your day rate.
While each industry is different this useful spreadsheet can allow you to get a rough guide of what you should charge.
Updated 7 Aug 2025 | Published 7 May 2019
This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.
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