New Zealand income tax law for 2024 New Zealand Income Tax Rates for 2024

New Zealand Income Tax Brackets

Tax Bracket (yearly earnings) Tax Rate (%)
$0 - $14,000 11.50%
$14,000 - $48,000 19.30%
$48,000 - $70,000 31.50%
$70,000 and up 35.50%

New Zealand has a bracketed income tax system with four income tax brackets, ranging from a low of 11.50% for those earning under $14,000 to a high of 35.50% for those earning more then $70,000 a year.

How does the New Zealand Income Tax compare to the rest of the world?

Out of the thirty four countries tracked, seventeen have a higher maximum income tax rate then New Zealand. Countries with similar tax brackets include Hungary with a maximum tax bracket of 36.00%, Luxembourg with a maximum tax bracket of 38.00% and Japan with a maximum tax bracket of 40.00%. Keep in mind that our ranking measures only nationwide income taxes, and does not account for local income taxes at state, province, or municipal levels.

New Zealand Income Taxes
Maximum Income Tax Income Tax Allowance World Tax Rank
35.50% $0 ($0 USD) 18th of 34

What is the New Zealand Income Tax?

New Zealand's personal income tax is a bracketed income tax that must be paid yearly by all citizens to the government of New Zealand. Failure to pay, or underpayment of, the New Zealand income tax can result in high fees, fines, or jail time.

In addition to New Zealand's income tax, other taxes may apply to wages or profits earned, including social services, medical care, and capital gains taxes.

New Zealand Income Tax Allowance

Unlike many other countries, New Zealand does not provide taxpayers with a tax-free income tax allowance, and all income reported (minus deductions) is taxable by the New Zealand income tax.

A tax credit is a fixed amount of money that may be kept by taxpayers without paying any income taxes. Generally, a tax credit is subtracted from your gross income before your taxable income is calculated.

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