New Zealand introduces new 39 percent personal tax rate

As discussed by John Cantin, Darshana Elwela and Rachel Piper, a new rate will apply to income above $180,000 from 1 April 2021.

The New Zealand Government has legislated a new 39 percent personal tax rate on income above $180,000 from 1 April next year (the 2021-22 tax year). Consequential changes The legislation also contains a number of consequential amendments: a new Fringe Benefit Tax (FBT) rate of 63.93 percent for all-inclusive pay above $129,681 and the single rate and pooling of non-attributed fringe benefit calculations; a 39 percent Resident Withholding Tax (RWT) rate for individuals on interest income...

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Authors: John Cantin, Darshana Elwela,

Published Date: 14 December 2020