iCalculator™ NZ: New Zealand Tax Calculators
Welcome to iCalculator™ NZ, your comprehensive suite of free tax calculators for New Zealand. iCalculator™ has provided free tax calculators for New Zealand since 2019. Since those early days we have extended our resources for New Zealand to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The New Zealand Tax Calculator and salary calculators within our New Zealand tax section are based on the latest tax rates published by the Tax Administration in New Zealand. In this dedicated Tax Portal for New Zealand you can access:
New Zealand Tax Calculator 2024/25
The New Zealand Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in New Zealand. This includes calculations for
- Employees in New Zealand to calculate their annual salary after tax.
- Employers to calculate their cost of employment for their employees in New Zealand.
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Discover New Zealand
New Zealand is located in the southwestern Pacific Ocean. It consists of two main landmasses, the North Island and the South Island, along with over 700 smaller islands. The country is situated approximately 1,500 kilometers (about 900 miles) east of Australia across the Tasman Sea and roughly 1,000 kilometers (about 600 miles) south of the Pacific island areas of New Caledonia, Fiji, and Tonga. New Zealand's remote location has led to its unique biodiversity, featuring a large number of endemic species of flora and fauna.
Overview of Taxation in New Zealand
New Zealand operates a comprehensive and multifaceted tax system. This overview provides insights into the various types of taxes and the compliance requirements within the New Zealand tax framework, aiming to offer a concise guide for both individuals and businesses.
Income Tax
Income tax in New Zealand is levied on personal income, including wages, salaries, and investment income. This progressive tax system means that the rate of taxation increases as income rises. New Zealand residents are taxed on their worldwide income, while non-residents are taxed only on income earned within the country. Taxpayers are required to file an annual return with the Inland Revenue Department (IRD).
Goods and Services Tax (GST)
Goods and Services Tax (GST) is a value-added tax applied to most goods and services in New Zealand. GST is charged by businesses and is included in the price of products or services. Businesses that are registered for GST need to file regular returns, usually bi-monthly or monthly, with the IRD.
Corporate Tax
Corporate tax applies to the profits earned by companies operating in New Zealand. This includes both domestic and foreign companies. Like individual income tax, companies are required to file an annual tax return and pay any tax due on their profits.
Pay As You Earn (PAYE)
PAYE is a system where employers deduct income tax and other statutory contributions (like KiwiSaver) from their employees' wages or salaries before paying them. This system ensures that income tax obligations are met regularly and reduces the annual tax burden for employees.
Capital Gains Tax
New Zealand does not have a general capital gains tax. However, specific rules can tax gains on certain types of property transactions, particularly if the property was bought with the intention of resale.
Other Taxes
Additional taxes in New Zealand include estate duties, customs and excise duties on certain goods, and property taxes levied by local councils.
Tax Compliance and Reporting
Compliance with New Zealand's tax laws is mandatory for all taxpayers. This involves accurate record-keeping, timely filing of tax returns, and payment of any taxes due. The IRD offers various online services and tools to assist taxpayers in meeting their obligations.
In summary, New Zealand's tax system encompasses a range of tax types, each with its own compliance requirements. Understanding these taxes and adherence to the regulations is crucial for all individuals and businesses operating within the country.