Tax rates in NZ

[Taonga]

Kia ora ppl,

Its been a few years now since living at home,so am asking if someone could enlighten me on what the tax rates are now for certain levels of income?

Is any income you get from rentals classified as PAYE income?

Any help greatly appreciated.

Thanx, Taonga.

[RentMaster]

I got this from www.ird.govt.nz

up to $38,000 19.5%
$38,001 to $60,000 inclusive 33%
$60,001 and over 39%

When you file your tax return, your income AND EXPENSES (including depreciation) from rental properties needs to be declared, and you will be taxed on the total profit/loss from rental activities. A loss means a tax refund, and profit means you pay tax. It is not PAYE, but it is the same rate.

Companies pay 33% tax regardless of income level.

[Taonga]

Cheers Andrew,thanks for that.More helpful info for my plan.

Taonga.