Saturday, May 26, 2012

Just realised I didn't do a post yesterday. Here is a comparison of New Zealand and Australian Personal Tax Rates

Australian:
Taxable income
Tax on this income
0 - $6,000
Nil
$6,001 - $37,000
15c 
$37,001 - $80,000
30c
$80,001 - $180,000
37c
$180,001 and over
45c

Taxable income
Tax on this income
up to $14,000
10.5 cents
from $14,001 to $48,000
17.5 cents
from $48,001 to $70,000
30 cents
$70,001 and over
33 cents
No notification
45 cents

Neither of these includes ACC Levy, Medicare Levy or Flood Levy

3 comments:

  1. in my mind these are equivalent because of the exchange rate. thoughts?

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    Replies
    1. yeah they would be pretty similar but my main point I was trying to make is that in Australia people on higher incomes get taxed more and people on lower incomes get taxed less than in New Zealand. The right wing of New Zealand claimed that cutting taxes for the wealthy in 2008 would help catch us up with Australia, but we have cut taxes for the wealthy far lower than Australia's are. I didn't want to point this out in the original post though, I just wanted people to see it and make up their own minds

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    2. Also worth pointing out that the general minimum wage in Australia is $17.03 and as of July the tax free threshold is increasing to $18,000. Which means the majority of my income will be untaxed. Which is good.

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