[TheLanes]

Just wondered what the income tax rate is in NZ?

Also, what rates do homeowners pay - is it like the UK - dependent on size/value of property?

Mark

[Avalon]

Upto 38k / year = 19.5%
38k - 60k = 33%
60k+ = 39%

There is also a small levy on that to cover ACC - which is the accident compensation fund - this takes the rates in total to:
20.8%, 34.3 % and 40.3%

If you dont have an IRD number - the "emergency rate" is 45% - so its well worth sorting that out.

Low income earners can get a rebate of 4% on the first 9k or so. Not 100% sure how that works - except that I know you can claim it via a tax return.

Rates are worked out on the value of your home - as decided by the local authority. Every three years they contract a company to give them a value on your home, and then that is what they base the next 3 years rates on. You can challenge a valuation if you think its too high or too low.

HTH

[Avalon]

https://www.ird.govt.nz/cgi-bin/form.cgi?form=incrates

Here is a calculator on the NZ IRD website. If you put in what you think your salary will be - it tells you what the total tax payable will be.

[Brijan]

Wellington City council have rate valuations done every 12 months not every 3 years, its the only one i know of that do this though, probably so they can up the rates quicker :laugh
Brian and Jan