When did NZ company tax rate change from 33 to 30?
When did NZ company tax rate change from 33 to 30?
2008
New Zealand went through a major program of tax reform in the 1980s. The top marginal rate of income tax was reduced from 66% to 33% (changed to 39% in April 2000, 38% in April 2009 and 33% on 1 October 2010) and corporate income tax rate from 48% to 28% (changed to 30% in 2008 and to 28% on 1 October 2010).
What is the personal income tax rate in New Zealand?
From 1 April 2021
| For each dollar of income | Tax rate |
|---|---|
| Over $14,000 and up to $48,000 | 17.5% |
| Over $48,000 and up to $70,000 | 30% |
| Over $70,000 and up to $180,000 | 33% |
| Remaining income over $180,000 | 39% |
What is my pie rate?
Individual tax residents
| Taxable income without your PIE income | Taxable income with your PIE income | PIR |
|---|---|---|
| $14,000 or less | $48,000 or less | 10.5% |
| $48,000 or less | $70,000 or less | 17.5% |
| All other cases | 28% |
When do you pay tax in New Zealand?
You pay tax on this income at the end of the tax year. The amount of tax you pay depends on your total income for the tax year. New Zealand has progressive or gradual tax rates. The rates increase as your income increases. If you have more than one source of income, you pay secondary tax.
What was the tax rate in New Zealand in 2008?
Note: * Includes the low-income-earner-rebate. For income earners earning $38,000 or more, the marginal tax rate on the first $38,000 of income was 19.5 percent. In Budget 2008 Hon Dr Michael Cullen announced a series of income tax cuts which were to occur over three phases, with the first phase to commence from 1 October 2008.
What’s the top tax rate for the Labour Party?
Labour wants to introduce a new top tax rate of 39 per cent for income earned over $180,000. Video Player is loading. This is a modal window. Beginning of dialog window.
Where does the New Zealand government get its money from?
A major source of revenue for the Crown comes from income taxes on individuals. In the year ended 30 June 2013, a total of $26,376 million was received from individual income tax (including fringe benefit tax), contributing approximately 45 percent of total tax revenue for the year.