How much is New Zealand income tax?

Expert Info

Posted by

on 13 May 2011

Hello

What kind of deductions should I expect from my salary in New zealand for income tax... just trying to see if the job I've been offered is worth it.

Anonymous (not verified) on 13 May 2011 - 09:25

Hard to say without knowing what they've offered you, but the income tax rate in New Zealand works on a progressive scale, from 19.5% to 39%. Find out from your prospective employer what tax bracket you'll fall into.

Anonymous (not verified) on 7 Aug 2012 - 11:16

Hi Cornwall

Actually, the taxes DavidC lists are incorrect.

It depends on your salary. Since 2011 taxes in New Zealand have been lowered. If you earn under 14,000 NZD you'll be taxed 10 percent, upwards to 33 percent on NZD 70,000 or more.

It's not a tax haven, but New Zealand is one of the most favourable environments for investment and assets - no capital gains tax or inheritance tax, and you only get taxed on your worldwide income after you've lives in the country for four years. Take a look at Banking and Taxes in New Zealand for more info.

Anonymous (not verified) on 28 Aug 2012 - 13:23

There will be mandatory deductions for income tax and ACC, and optional deductions for Kiwisaver. Depending on your line you work you'll probably end up with a net salary that's about 75% of the gross amount. You can see the exact salary tax calculations and deductions on the salaries website http://www.salaries.co.nz/a/salary-tax-calculator/

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