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30% is the highest tax bracket, in NZ on the equivalent of USD 55k pa (NZ$77600 right now) you'd pay $17835 in tax, or around 23% marginal. There is the matter
by sitharus 10y ago
30% is the highest tax bracket, in NZ on the equivalent of USD 55k pa (NZ$77600 right now) you'd pay $17835 in tax, or around 23% marginal.
There is the matter of 15% GST to consider, but it's not something you often think about and factors in to the cost of living comparisons.
- doubleunplussed 10y agoWow, 30 % is the top rate? That's incredible. Would have expected it to go up closer to 50 % for a country with the general attitudes I'd perceived NZ to have. I guess it might be to entice skilled people not to leave?
- sitharus 10y agoPartially yes. During the 90s when the New Zealand economy wasn't so great a lot of people left for Australia due to our mutual(ish) agreement that lets citizens of both countries live in the other (NZ gives Australias a permanent residency equivalent visa, but AU only gives New Zealanders a 'long term visitor' visa with permission to work). If you're curious you can work out your tax here: http://www.ird.govt.nz/calculators/tool-name/tools-t/calculator-tax-rate.html http://www.ird.govt.nz/calculators/tool-name/tools-t/calcula... There's also a 1.26% ACC levy on all employees, so remember to add that on.