A gauge sets a height of a lathe cutter to a spindle axis. The gauge comprises an adjustable housing and a level vial, a longitudinal positioning of the level vial to be perpendicular to the spindle axis. A bubble in the level vial is longitudinally centered therein and the adjustable housing is fixed in place relative to the gauge. A chamfered notch in the gauge is slidable along a length of a shaft positioned in the spindle thereof. Flexible prongs secure the level vial relative to the adjustable housing. One of a set screw, a clamp and rubber bands secure the level vial relative to the adjustable housing. A receptacle in the gauge receives a shaft positioned in the spindle and enables laterally adjusting the gauge on a length of the shaft until the contact face of the gauge is laterally aligned with the tip of the lathe cutter.