Types of individual income

You might have more than one type of income. Check to see how each type gets taxed and what you need to do.

If you're in business, you may receive income from interest and dividends, foreign investment funds, grants, koha and other sources. You may also get rental income or schedular payments as a contractor.

Types of business income

Self-employed

Schedular payments

Residential rental income and paying tax on it

Portfolio investment entity (PIE) income

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Earning salary and wages If you get paid a salary or wages, your employer will deduct tax and the ACC earners' levy before they pay you.
Benefits, NZ superannuation and student allowance These types of income are taxable and will be included in your end of year tax assessment or IR3 return.
Overseas income How tax works when you're a New Zealand tax resident earning overseas income.
Foreign superannuation If you have a retirement fund outside of New Zealand, any money you withdraw or transfer is taxed using 2 different methods.
Individualised funding Government-backed programmes pay for services to support people with disabilities, who decide what to do with their own funding.
Voluntary work Getting paid or reimbursed as a volunteer.
Home-based childcare You may need to pay tax on income you get from providing childcare out of your own home.

Ngā momo moni whiwhi whaiaro Types of individual income

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Types of individual income