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Individual Income Tax rates and RWT (resident withholding tax)

Individual Income Tax and RWT Rates

Income Threshold

Income Tax and

RWT Rate from 1 October 2010

RWT Rate from 1 April 2011

$0 - $14,000 10.5%
$14,001 - $48,000 17.5%
$48,001 - $70,000 30%
$70,001 and over 33%
No-notification rate 33%
     
Company RWT Rates
All Income Levels 33% or 30% 28%

PIE Income and your PIR

From 1 October 2010 there are four rates: 0%, 10.5%, 17.5% and 28%
To work out your PIR for the 2011/2012 income year you need to use your taxable income from either of the two previous income years.

Taxable Income Taxable Income plus PIE Income/Loss PIR
$0 - $14,000 $0 - $48,000 10.5%
$48,001 - $70,000 17.5%
$70,001 or more 28%
$14,001 - $48,000 $0 - $70,000 17.5%
$70,001 or more 28%
$48,001 and over Any amount 28%

Secondary Tax Rates

From 1 October 2010
Income Thresholds Rates Tax Code
student loan
$0 - $14,000 10.5% SB
$14,001 - $48,000 17.5% S S SL
$48,001 - $70,000 30% SH SH SL
$70,001 and over 33% ST ST SL

The above information has been extracted from the IRD website as at 4 April 2011. Please refer to the IRD website for further information.

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