## What is the NZ tax rate 2020?

There are five PAYE tax brackets for the 2021-2022 tax year: 10.50%, 17.50%, 30%, 33% and 39%. Your tax bracket depends on your total taxable income.

What are tax tables for 2021?

2021 Federal Income Tax Brackets and Rates

Rate For Single Individuals For Married Individuals Filing Joint Returns
12% \$9,951 to \$40,525 \$19,901 to \$81,050
22% \$40,526 to \$86,375 \$81,051 to \$172,750
24% \$86,376 to \$164,925 \$172,751 to \$329,850
32% \$164,926 to \$209,425 \$329,851 to \$418,850

### What are tax brackets for 2019 NZ?

NZ Tax at a glance

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
Company income 28%
Tax credits Working for Families credits for low and middle income earners.

What is NZS tax rate?

Photo credit: Getty. There are currently four individual income tax rates in New Zealand: 10.5 percent, 17.5 percent, 30 percent and 33 percent. At the 2020 election, Labour promised to introduce a new top tax rate of 39 percent on income over \$180,000, likely to take effect from April 1, 2021.

## What should my PIR rate be?

The default PIR is 28%. If your PIR is not 28%, you must advise us so we can apply the lower rate. If you are an overseas tax resident, your PIR is 28%. The 10.5% and 17.5% rates are not applicable.

What are the new tax brackets?

Here is a look at what the brackets and tax rates were for 2019:

Tax rate Single filers Head of household
10% \$0 – \$9,700 \$0 – \$13,850
12% \$9,701 – \$39,475 \$13,851 – \$52,850
22% \$39,476 – \$84,200 \$52,851 – \$84,200
24% \$84,201 – \$160,725 \$84,201 – \$160,700

### What are the tax rates for 2020?

2020 federal income tax brackets

Tax rate Taxable income bracket Tax owed
10% \$0 to \$14,100 10% of taxable income
12% \$14,101 to \$53,700 \$1,410 plus 12% of the amount over \$14,100
22% \$53,701 to \$85,500 \$6,162 plus 22% of the amount over \$53,700
24% \$85,501 to \$163,300 \$13,158 plus 24% of the amount over \$85,500

How do I figure tax percentage from total?

To calculate the sales tax that is included in receipts from items subject to sales tax, divide the receipts by 1 + the sales tax rate. For example, if the sales tax rate is 6%, divide the total amount of receipts by 1.06. \$255 divided by 1.06 (6% sales tax) = 240.57 (rounded up 14.43 = tax amount to report.

## What if my PIR is wrong?

Having an incorrect PIR can lead you to either overpaying, or underpaying tax. This means many underpaid tax, and received bills accordingly. Unfortunately, it also meant that some were overpaying tax. These KiwiSaver investors will not receive a refund for overpaid tax.