What are the 2024-25 New Zealand income tax rates?

10.5% on income up to $14,000; 17.5% from $14,001-$48,000; 30% from $48,001-$70,000; 33% from $70,001-$180,000; 39% above $180,000 (introduced 2021). Resident rates apply to worldwide income.

What is the ACC earner levy?

Accident Compensation Corporation (ACC) earner levy of 1.60% (2024-25) on employment and self-employment income up to $139,384 maximum (levy up to $2,230). Covers personal injury from accidents, replacing tort rights.

What is the PIE (Portfolio Investment Entity) rate?

PIE funds (KiwiSaver, managed funds) are taxed at your Prescribed Investor Rate (PIR): 10.5%, 17.5%, or 28% depending on income. PIR is generally lower than marginal tax rate, making PIE investments tax-efficient.

KiwiSaver is New Zealand voluntary retirement savings: employer contributes 3% minimum, employee 3-10%. Government may contribute $521 annually. Invested in PIE funds. Accessible at age 65 or for first home purchase.

What is Working for Families?

Working for Families is an in-work tax credit and family tax credit for working families with children. Family Tax Credit: up to $127.29/week for first child. In-Work Tax Credit: additional $72.50/week for working families.

New Zealand Income Tax and ACC Levy Calculator 2024-25

Calculate New Zealand income tax: 10.5% to $14,000, 17.5% to $48,000, 30% to $70,000, 33% to $180,000, 39% above. Plus ACC earner levy 1.60% up to $139,384. Includes PIE rates and Working for Families.

Principal ($)

Annual Rate (%)

Years

Compounding / Year

$ Finance Disclaimer: These calculators are for educational and illustrative purposes only. Results do not constitute financial advice. Consult a licensed financial advisor before making investment or borrowing decisions.

How to Use

Enter the values for the scenario you are assessing. Calculate New Zealand income tax: 10.5% to $14,000, 17.5% to $48,000, 30% to $70,000, 33% to $180,000, 39% above. Plus ACC earner levy 1.60% up to $139,384. Includes PIE rates and Working for Families. Use the new zealand income tax acc result to inform your calculation.

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New Zealand Income Tax and ACC Levy Calculator 2024-25

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Frequently Asked Questions

What are the 2024-25 New Zealand income tax rates?

What is the ACC earner levy?

What is the PIE (Portfolio Investment Entity) rate?

What is KiwiSaver?

What is Working for Families?