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Tax in New Zealand

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TAXES IN NEW ZEALAND

An easy system to navigate

Our tax system was designed to be simple and fair, and amongst the best in the world for personal taxes.

Will you have to pay tax in New Zealand?

There area several things that may be taxed in your home country, but not in New Zealand. The following are not taxed here:

  • no inheritance tax
  • no general capital gains tax (some exceptions depending on the type of investments)
  • no local or state taxes (except property rates from local councils)
  • no payroll tax
  • no social security tax
  • no healthcare tax (except the levy for New Zealand’s Accident Compensation injury insurance scheme)

The taxes you will pay include, like everyone else, the tax and Goods and Services Tax (GST), at a flat 15% on all goods and serviecs. Possibly known as VAT or TVA in your home country, it is used to fund services for the benefit of all. There is also excise tax paid on petrol, tobacco, alcohol.

Last but not least, you will also pay income tax, and it is directly taken off your salary/wages by your employer.

New Zealand income tax

New Zealand maximum individual tax rate is 33% for every dollar earned over NZ$70,000.

  • 33% from $70,000
  • 30%: $48,001 to $70,000
  • 17.5%: $14,001 to $48,000
  • 10.5%: $0 to $14,000

New Zealand company tax

Companies and corporates are taxed at a flat rate of 28%.