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Taxation

The tax system in New Zealand is comparatively easy to handle and to use.

It is predictable, fair and without any loopholes.

The key feaures of New Zealand’s tax system includes no capital gain tax (there might be some exeptions) no inheritance tax, no payroll tax, no health care tax (apart from a very low levy for NZ’s accident compensation injury insurance scheme), no local or state taxes apart from property rates levied by local councils and authorities.

However by paying income tax and GST (Goods and Service Tax) NZ funds services for the benefit of all New Zealanders. Please check if you need to put in a tax return or not. (https://www.ird.govt.nz). The tax year runs from 1 April to 31 of March.

New Zealand Tax rates for personal income:

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 Tax rate for company income: 28%

Sales & excise tax: GST of 15% on most things, excise tax paid on petrol, alcohol and tabacco

If you run a business a good advise is to attend a workshop and learn all about the important steps you have to follow. (http://www.ird.govt.nz/contact-us/seminars/)

First thing when you arrive is to apply for a IRD number (tax number). You need to fill in a form (IR595) which you can download from the IRD website or get at a post shop, and hand it back to a post shop or to an AA (Automobile Association) Driver Licensing Agent.

Tax is a complex topic and the information provided is just a overview, please get more information if needed.

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