Retention Calculator
Track retention held to date, and what's released at practical completion and at the end of the defects liability period.
General tool only. This calculator gives estimates based on the values you enter. Always check your contract terms and any state-specific rules before relying on the figures.
Select your state or territory
Using Australia-wide general calculation
General calculation applicable across Australia.
Practical completion and final release percentages apply to the total retained money, not the contract value.
Results
Enter your contract value and retention % to see retention held and release amounts.
How it works
Behind the numbers
Retention is held back from each progress payment up to a cap (commonly 5% of the contract value). It's split between practical completion and the end of the defects liability period.
Formula
The maths, written out
Total retention = Contract × Retention% Held to date = Paid to date × Retention% PC release = Total × PC release% Final release = Total × Final release%
Worked example
A quick scenario
On an $820,000 contract with 5% retention, $41,000 is held in total. With a 50/50 split, $20,500 is released at PC and $20,500 at final.
Frequently asked
Is this calculator free to use?
Yes. All calculators on Contractor Calc are free and do not require sign-up.
How accurate are the results?
The calculators use standard formulas. Results are estimates only and depend on the values you enter. Always check against your contract.
Can I export the results?
Most calculators include a download or copy-to-clipboard option for sharing with clients or storing in your records.