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New Zealand went through a major program of tax reform in the 1980s. The top marginal rate of income tax was reduced from 66% to 33% (changed to 39% in April 2000, 38% in April 2009, 33% on 1 October 2010 and back to 39% in April 2021) and corporate income tax rate from 48% to 28% (changed to 30% in 2008 and to 28% on 1 October 2010).
0% (first €8,700 per year is tax free) 49.50% [171] 21% (standard rate) 9% (essential and selected goods) 25% Taxation in the Netherlands New Zealand: 28% 10.5% [172] 39% [173] 15% Taxation in New Zealand New Caledonia [174] 30% 0% 40% 25% (on local income of non-residents) [175] — Taxation in New Caledonia Nicaragua: 30% ...
New Zealand tax residents can claim 33.33 percent of the donation back through the Inland Revenue Department, by filing a Tax credit claim form (IR 526) with the donation receipt attached after the end of the tax year (i.e. 31 March) in which the donation was made.
Goods and Services Tax (GST) is a value-added tax or consumption tax for goods and services consumed in New Zealand. GST in New Zealand is designed to be a broad-based system with few exemptions, such as for rents collected on residential rental properties, donations, precious metals and financial services. [ 1 ]
A new income tax law, passed in 1997 and effective 1998, determined residence as the basis for taxation of worldwide income. [167] The Philippines used to tax the foreign income of nonresident citizens at reduced rates of 1 to 3% (income tax rates for residents were 1 to 35% at the time). [168]
There is no social security (payroll) tax or land tax in New Zealand. The 2010 New Zealand budget announced cuts to personal tax-rates, with the top personal tax-rate reduced from 38% to 33% [111] The cuts gave New Zealand the second-lowest personal tax burden in the OECD. Only Mexico's citizens retained a higher percentage-wise "take home ...
As of 1 December 2011, people may receive New Zealand Superannuation if they are: aged 65 or over; a New Zealand citizen or permanent resident; a resident of New Zealand at the time they apply; They must also have lived in New Zealand for at least 10 years since they turned 20 with five of those years being since they turned 50.
Due to a change in income tax rates from 1 October 2010 (mid tax year), the FBT rates for 2011 are blended for the year. Single rate option – 61% for Q1-Q2, 49.25% for Q3-Q4 [3] Alternate rate option – 49% or 61% for Q1-Q2, 43% or 49% for Q3, Alternate rate calculation in Q4 [3]