What is the payroll tax in New Zealand?

The minimum wage before tax is $65,438 +03.5 per hour.

How much tax to pay depends on the individual's specific income.

New Zealand income tax does not distinguish between ownership and domestic and foreign investment, and the current tax rate is:

The tax rates of the above-mentioned individual operators and partners belong to the excessive progressive tax rates.

For example, the income tax payable for an individual with an annual income of 70,000 yuan is: 38,000×19.5%+22,000× 33%+10000× 39% =18570.

Income tax is the most important tax in New Zealand. 65% of government revenue comes from income tax every year. The basic legal basis for collection is the income tax law of 1994 and the income tax law of 1994.

Extended data:

20 10 the government of the national party has reduced personal income tax and corporate tax (but increased goods and services tax) to encourage more savings and curb consumption. To some extent, this was determined by the credit crisis and economic recession at that time. In 20 15, the government raised the tax credit for fear of uneven income distribution.

From 20 16 to 20 16, the New Zealand government's tax revenue increased by 39%, and both the corporate tax and the goods and services tax increased by about 53%, much higher than the personal income tax of 29%. During this period, the gross national product increased by 28%.

According to the OECD report, New Zealand's tax level is the lowest among developed countries.

References:

Herald-New Zealand Personal Income Tax: The Second Lowest in Developed Countries?