[ndheah]

Hello, we're starting to do some budgeting and what not, wondering what our take home pay would be?

For instance, in American, if you have the max taken out in taxes, (27% roughly) a $1000 paycheck is now $730 plus you get your health care taken out, so a $100 paycheck is quickly $600 after everything is all said and done.

What is a rough amount that is taken out each paycheck? Also, are most paychecks weekly, bi-weekly, monthly? America, for the most part, is Bi-Weekly.

[talisker]

[QUOTE=ndheah;180613]Hello, we're starting to do some budgeting and what not, wondering what our take home pay would be?

For instance, in American, if you have the max taken out in taxes, (27% roughly) a $1000 paycheck is now $730 plus you get your health care taken out, so a $100 paycheck is quickly $600 after everything is all said and done.

QUOTE]

The NZ tax rates are 19.5% for the first $38k, 33% for the next bit up to $60k, and 39% for anything above. There's also an ACC levy, which is for the fund used to pay compensation to people for accidents. This is an additional 1.3% on top of these rates.

Overall, if you're on $50k you'll take home around $38k (76%), on $75k it'll be around $53k (71%), and for $100k it's about $68k (68% obviously).

You can take out private medical insurance if you wish - costs for this will vary but it's certainly substantially less than it would be in the UK, for example.

[RamblingPaddies]

someone on here did an excellent Excel sheet which you could download and enter your salary into. it then calculated the tax and the take home pay

in general from what i can remember, if you earned lets say 70,000 New zealand then you'd come out with 4000 a month after tax but i'm only going from memory

[b&k]

I have attached a zipped spreadsheet below which calculates your after tax salary.

[ndheah]

You guys rock! You help soooo much! This is awesome! I really appreciate it :-)

[macuser]

Use this to calculate tax due.



http://www.ird.govt.nz/calculators/tool-name/tools-t/calculator-tax-rate.html?id=homepage


HTH

Helen

[pinkpiggy]

To answer another of your questions, most people seem to get paid fortnightly, with a few being paid monthly.

[CJ22]

Would combined tax be less for married couples, as it is in the UK?

[The Hodges]

Would combined tax be less for married couples, as it is in the UK?

There's no tax credit per se, but two people earning the same salary as one person will pay less tax, as the bands are cumaltive.

Whether couples are married or not, as I understand it, makes no difference.