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In NZ we generally don't have ANY deductions (nor a tax on capital gains) - this makes filing tax easy - if you have one employer chances are they got your tax
by Taniwha 4y ago
In NZ we generally don't have ANY deductions (nor a tax on capital gains) - this makes filing tax easy - if you have one employer chances are they got your tax exactly right - most people don't even need to file - and certainly none of that fluffing around telling your employer how many 'deductions' you want them to fudge your PAYE with. As an employer it's equally simple, I do my payroll with a simple line in a spreadsheet.
- singron 4y agoNZ doesn't have a separate capital gains rate like the US, but capital gains are still taxed as income, so donating stocks might actually be more worthwhile there unless there is some special tax treatment. Obviously simplified filing is nice.