Income tax rates are applied to your combined income at the end of the tax year to work out your tax obligation.
|Taxable income||Tax rate|
|Up to $14,000||10.5%|
|Over $14,000 and up to $48,000||17.5%|
|Over $48,000 and up to $70,000||30%|
|Remaining income over $70,000||33%|
Secondary income is taxed at a flat rate throughout the year.
|Tax code||Income tax rate|
If you're a non-resident entertainer your rate will always be 20% whether you've provided the IR330C or not.
Our Tax on annual income calculator works out the income tax for your taxable income. It also shows you the related income tax rates. It doesn't include other deductions like the ACC levy, KiwiSaver or your student loan.
Our PAYE / KiwiSaver deductions calculator includes all deductions such as PAYE, KiwiSaver, child support and student loan repayments.
If you're a self-employed contractor and you perform one of the activities on the IR330C, your tax code is "WT". You'll have tax deducted from your schedular payments at the rate listed on page 3 of the IR330C, or at a rate chosen by you (subject to minimums).
You may qualify for a certificate of exemption if you're in business and you have a good record of filing returns and paying tax.
If you have a certificate of exemption you don't need to have tax deducted from your schedular payments during the year.
If you're a contractor and your work is not listed on the IR330C, you don't need to have tax deducted from your income during the year. You can opt to have your payments treated as voluntary schedular payments which means tax will be deducted from these payments during the year.
All contractors (individuals and companies) must file an income tax return at the end of the tax year.
In most cases companies don't have tax deducted from their earnings unless they:
Companies will pay tax on their income at the end of the tax year.