Individual income tax
Information for salary and wage earners IR723
(published April 2011)
About this guide
Factsheet with income tax information for salary and wage earners, including personal tax summaries, refunds, summary of earnings and individual tax return (IR3).
Adobe Acrobat PDF | 97kb | 2 pages
When to use this guide
Most salary and wage earners and those who receive benefits and pensions pay the correct amount of tax and don't need a personal tax summary to square up their end-of-year tax.
Remember:
You need to:
- give your employer your IRD number, and
- choose the correct tax code so you're taxed at the right rate.
If you choose the wrong tax code, we may write to you during the tax year, suggesting you correct it.
From 1 October 2010 if you've given your bank your IRD number, the tax on your interest will automatically be deducted at:
- 17.5% for existing accounts, and
- 33% for new accounts (unless you’ve told your bank to use a different rate).
If you don’t give your bank your IRD number, the tax will be deducted at 33%.
What you will need