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Old 9th January 2011, 02:47 AM
FrancisJames FrancisJames is offline
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Users Flag! Originally from scotland. Users Flag! Expat in australia.
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Quote:
Originally Posted by NZCowboy View Post
Taxable income
PAYE rate for every
$1 of taxable income
(including ACC earners' levy*)
up to $14,000.........................12.54 cents
from $14,001 to $48,000........19.54 cents
from $48,001 to $70,000........32.04 cents
$70,001 and over...................35.04 cents
Income tax rates for individuals (Find out about)

Its a progressive tax rate
For example gross income of $80,000
Individual person income tax rates
1 April 2009 to 31 March 2010
Income............................................ ................tax rate........Income.........Tax
Income up to $14000 taxed at.........................12.5%.....$14000.00...$ 1750.00
Income over $14000 up to $48000 taxed at.....21%.......$34000.00...$7140.00
Income over $48000 up to $70000 taxed at.....33%.......$22000.00...$7260.00
Remaining income taxed at................................38%.......$10000 .00...$3800.00
Totals............................................ ..................................$80000.00..$1995 0.00

*This calculation doesn't take into account any tax credits which may reduce your tax.

(Sorry ...it's a nightmare trying to do tables in this forum)
Wasn't that question directed at Topcat?
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