Trinidad and Tobago
Trinidad and Tobago calculators
With the values in force in Trinidad and Tobago, the source of each one and the date we checked it.
Official data, updated automatically
An automated process checks the official sources every day. Rule changes go live after we verify them.
- Last review of the rules
- Latest automatic figure
- Central Bank buying rate, TT dollars per US dollar,
- Official sources
- 10 official documents
Pay and work
- Salary calculator Trinidad and TobagoPut in your gross monthly salary and see what lands in your account on payday. Each statutory deduction shows on its own line, the way it appears on your payslip.
- Minimum wage calculator Trinidad and TobagoTrinidad and Tobago has one national minimum wage for all workers. It has been TT$20.50 an hour since 1 January 2024.
- Hourly to salary calculatorHow much is your salary per hour? What does an hourly offer come to per year? Enter an amount, pick the period and we show all the others.
- Pay raise calculatorYou have been offered a raise, or you are about to ask for one. Enter your pay and the raise, as a percentage or an amount, and see how much changes each month and year.
- Time card calculatorPick the start and end time for each day, your unpaid break and your hourly pay. We show total hours, overtime and your pay for the week.
Taxes
- Income tax calculator Trinidad and TobagoCheck how much income tax you owe for the year, or whether you are due a refund when you file your return.
- NIS calculator Trinidad and TobagoNational Insurance in Trinidad and Tobago is not a straight percentage. Your pay places you in one of 16 earnings classes, and each class has a fixed weekly contribution.
- Employer cost calculator Trinidad and TobagoBefore you make a job offer, check what the salary really costs your business. On top of the gross pay you owe the employer's share of National Insurance.
- VAT calculator Trinidad and TobagoValue Added Tax applies to most goods and services in Trinidad and Tobago and is included in the price you pay at the till.
Money and indexes
Loans, savings and investing
- Loan calculatorBefore you sign for a loan, two numbers matter: what you pay each month and what the loan costs you in interest.
- APR to APY calculatorTwo offers with the same rate can cost different amounts. The difference is how often interest is charged or paid.
- Mortgage calculatorA mortgage is the biggest debt most households ever take on. It pays to see the full numbers before you talk to a lender.
- Rent vs buy calculatorComparing the mortgage payment with the rent is not enough. Buyers pay interest, upkeep and property tax, but they end up owning the home. Renters can keep the down payment invested.
- Compound interest calculatorWith compound interest, the interest is added to your balance and starts earning interest of its own. That is why savings grow faster and faster.
- Simple interest calculatorSimple interest is always worked out on the original principal: interest is not added to the balance during the term.
- Savings goal calculatorA trip, a car, a deposit on a home or a cushion for surprises. A goal with an amount and a date is much easier to hit.
- Retirement savings calculatorA state pension often is not enough to keep your standard of living. Savings of your own, even small ones, make a big difference if you start early.
- Credit card payoff calculatorA credit card is usually the most expensive debt you have. Paying only the minimum stretches it out for years and piles on interest.
- 50/30/20 budget calculatorThe 50/30/20 rule is a simple way to plan your month. Half goes to essentials, 30% to things you enjoy and 20% to savings.
- Emergency fund calculatorAn emergency fund is money set aside for what you can't plan for: losing your job, a health problem or an urgent home repair.
- Car cost calculatorMost people know what they spend on fuel. Few add up insurance, maintenance, parking and, above all, the value the car loses every year.
Business and self-employment
- ROI calculatorA 50% gain sounds great, but it is not the same over 2 years as over 10. To compare investments you need the return per year.
- Profit margin calculatorMargin and markup get mixed up all the time, and the difference can cost you money. Both measure the same profit, but against a different base.
- Break-even calculatorThe break-even point is the level of sales where a business neither makes nor loses money. Below it you lose, above it you start to profit.
- Freelance rate calculatorThe most common freelance mistake is taking the salary you would want as an employee and dividing it by 160 hours. That leaves out taxes, expenses, vacation and every hour you can't bill.
Other calculators
- Net to gross salary calculator Trinidad and TobagoJob offers in Trinidad and Tobago are usually quoted gross. If you know what you need in your account each month, this works backwards to the salary that gets you there.
- Weekly pay calculator Trinidad and TobagoIf you are paid by the week, enter your gross weekly wages to see what you take home.
- Bonus tax calculator Trinidad and TobagoA bonus is taxed as part of your income for the year. What it costs you in tax depends on how much of the personal allowance your salary has already used.
- Health Surcharge calculatorHealth Surcharge is a small fixed charge on employment income. Your employer deducts it with PAYE and sends both to the Board of Inland Revenue.
- Maternity leave calculator Trinidad and TobagoThe Maternity Protection Act gives every eligible employee 14 weeks of maternity leave.
- Tax on severance and gratuitySeverance pay and a contract gratuity are taxed in very different ways. Severance has a large exemption; a contract gratuity has none.
- Stamp duty calculator Trinidad and TobagoWhen you buy property, the deed of conveyance has to be stamped by the Inland Revenue Division and the duty paid. Your attorney usually handles it, but the cost is yours.