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Tax

Personal Income:

The basic rate of income tax for the person on each dollar of the person’s taxable income is calculated using the table:
From 01 April 2011

Row

Range of dollar in taxable income

Tax rate

1

$0 – $14,000

0.105

2

$14,001 – $48,000

0.175

3

$48,001 – $70,000

0.300

4

$70,001 upwards

0.330

 


Taxable income: companies


From 01 April 2011
• The basic rate of income tax for the company on each dollar of the company’s taxable income is 0.28.

Taxable income: trustees


• The basic rate of income tax for the trustee on each dollar of the trustee’s taxable income is 0.33.

Taxable distribution: non-complying trust


• The basic rate of income tax on each dollar of a taxable distribution made by a non-complying trust is 0.45.

Taxable income: Maori authorities


• The basic rate of income tax for a Maori authority on each dollar of the Maori authority’s taxable income is 0.175


Basic tax rates for attributed fringe benefits


From 01 April 2011

Row

Range of dollar in all-inclusive pay

Tax rate

1

$0 – $12,530

0.1173

2

$12,531 – $40,580

0.2121

3

$40,581 – $55,980

0.4286

4

$55,981 upwards

0.4925

 

Basic tax rates for ESCT (Employer superannuation contribution rate)

Amount of tax calculation for section RD 67(a)

Row

ESCT rate threshold amount

Tax rate

1

$0 – $16,800

0.105

2

$16,801 – $57,600

0.175

3

$57,601 – $84,000

0.300

4

$84,001 upwards

0.330


Or as per section RD 67(b) , the amount of tax is determined by applying the rate of 0.33 to each dollar of an employer’s superannuation contribution.

Above tax rates are as per Schedule 1 of ITA 2007

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