Figures based upon 1 NZD = 1 NZD.
In New Zealand, an income of 62,199.99 NZD / 62,199.99 NZD is more than the lowest average advertised salary of 25,000.00 NZD / 25,000.00 NZD and less than the country's average income of 62,200.00 NZD / 62,200.00 NZD.
Why not compare the taxation and buying power of New Zealand with another country? click here.
Here are how much some common purchases cost in New Zealand:
Water Bottle (1.5L) : 1.84 NZD / 1.84 NZD (Price in New Zealand converted to NZD)
Milk Bottle (1L) : 2.68 NZD / 2.68 NZD (Price in New Zealand converted to NZD)
Pint of Beer : 8.00 NZD / 8.00 NZD (Price in New Zealand converted to NZD)
Bread (500g) : 2.21 NZD / 2.21 NZD (Price in New Zealand converted to NZD)
Chicken Breasts (1kg) : 12.45 NZD / 12.45 NZD (Price in New Zealand converted to NZD)
Petrol UK Gallon : 10.00 NZD / 10.00 NZD (Price in New Zealand converted to NZD)
Volkswagen Golf or Equivalent : 34,990.00 NZD / 34,990.00 NZD (Price in New Zealand converted to NZD)
Broadband Internet Monthly : 84.49 NZD / 84.49 NZD (Price in New Zealand converted to NZD)
Rent One Bedroom Apt. In City (Monthly) : 1,478.20 NZD / 1,478.20 NZD (Price in New Zealand converted to NZD)
Purchase One Bedroom Apt. In City : 235,337.90 NZD / 235,337.90 NZD (Price in New Zealand converted to NZD)
Part of Oceania, New Zealand covers an area of 263,135 square kilometers.
New Zealand has a Gross Domestic Product (PPP) of 174.85 ($ Billion) from a population of 4,604,871.
A progressive tax system spread over 5 bands - ranging from 10.5% to 39%.
Tax bands are as follow:
Below 15600 NZD - 10.5%
Between 15600 NZD and 53500 NZD - 17.5%.
Between 53500 NZD and 78100 NZD - 30%.
Between 78100 NZD and 180000 NZD - 33%.
Above 180000 NZD - 39%.
ACC Levy: Statutory accident insurance is payable at a rate of 1.60% of gross income - capped to 132,500 NZD of income.
There is a compulsary contribution to KiwiSaver (pension) of a minimum 3% of gross income. It is tax deductible.
IETC: There is a personal tax credit available for incomes between 24,000 NZD and 66,000 NZD of 520 NZD. This is reduced by 13 cents for each dollar over 66,000 NZD.
Source: http://www.ird.govt.nz/how-to/taxrates-codes/rates/itaxsalaryandwage-incometaxrates.html.
Source: XE.com (Currency Conversion).
Source: SalaryExplorer.com (Averages from average salaries in major job categories).
Source: Numbeo.com (Cost of living).
This calculator allows you to calculate income taxes and social contributions equivalent for New Zealand. You can choose the preferred currency for the input amounts and displayed calculation. For example: If you choose NZD as your preferred currency, then the income entered will be converted to New Zealand's native currency for the calculation so that correct income equivalent is used. The results will then be shown in NZD and your chosen currency.
We have trawled through the quagmire of tax legislation for 16 of the World's major economies and created a comparable position as close to the UK's PAYE (Pay As You Earn) system for employed people.
We look at each country's taxation for employed people, as well as things like medical care which are part of social contributions for some countries or require mandatory purchase of health insurance.
Combining this information lets us calculate taxes for each of the 16 countries and then do not only a taxation comparison but also a comparison of buying power based upon commonly purchased items.
It is quick and easy to use and you can get a detailed result at the click/tap of a button!
We currently support the following countries - by clicking on the links below you can just do an individual tax calculation for those countries - or scroll up and compare tax between two countries directly!
You can also compare tax using these examples:
Source: https://www.impots.gouv.fr/portail/international
Source: http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax/how_your_tax_is_calculated.html
Source: http://www1.agenziaentrate.gov.it/english/revenue_agency/index_revenue.htm
Source: http://www.impotsdirects.public.lu/fr.html
Source: http://www.agenciatributaria.es/AEAT.internet/en_gb/Inicio.shtml
Source: https://www.estv.admin.ch/estv/en/home.html.
Source: https://www.gov.uk/government/organisations/hm-revenue-customs.
Source: http://www.bundesfinanzministerium.de/Web/EN/Issues/Taxation/taxation.html.
Source: https://www.irs.gov/tax-professionals/tax-code-regulations-and-official-guidance.
Source: http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html
Source: https://www.ato.gov.au.
Source: http://www.ird.govt.nz/how-to/taxrates-codes/rates/itaxsalaryandwage-incometaxrates.html.
Source: https://www.nta.go.jp/foreign_language/.
Source: http://www.chinatax.gov.cn/2013/n2925/.
* calculations are currently based on the 2024 tax rules, rates and allowances for comparable single individuals in each country.