Tax Changes 1 October 2010

Individual Tax Rates

Income Tax

Pre 30 September 2010

Post 1 October 2010

$0-$14K

12.5%

10.5%

$14-$48K

21.0%

17.5%

$48-$70K

33.0%

30.0%

>$70K

38%

33.0%

Pre 31 March 2011

Post 1 April 2011

Company Tax Rate

30%

28%

 

 

Trustee Tax Rate

33%

33%

Individual PIE Rates

Taxable Income

Taxable & PIE Income

PIE Tax Rate Pre
30 September 2010

PIE Tax Rate Post
1 October 2010

$0 - $14,000

$0 - $48,000

12.5%

10.5%

$0 - $14,000

$48,001 -$70,000

21%

17.5%

$14,001 -$48,000

$0 - $70,000

21%

17.5%

$48,001 and over

Any

30%

28.0%

 

The PIE tax rates prior to 1 April 2010 were as follows:

Taxable Income

Taxable & PIE Income

PIE Tax Rate

$0 - $38,000

$0 - $60,000

19.5%

$38,001 +

Any

30%

Any

$60,001 and over

30%

 

RWT Rates
RWT Rates have reduced from 1 October 2010 to align with personal tax rates

Thresholds

Pre 30 September 2010

Post 1 October 2010

$0-$14K

12.5%

10.5%

$14-$48K

21.0%

17.5%

$48-$70K

33.0%

30.0%

>$70K

38%

33.0%

FBT Rates
FBT Rates for the 2011-12 and subsequent income years:

Income Range (All inclusive pay)

FBT Tax Rate

$0 -$12,530

.1171

$12,531 -$40,580

.2121

$40,581 - $55,980

.4286

$55,981 and over

.4925

FBT Rates for the 2010-11 Income Year

Income Range (All inclusive pay)

FBT Tax Rate

$0 -$12,390

.1299

$12,391 -$39,845

.2384

$39,846 - $54,915

.4599

$54,916 and over

.5504

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