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
|
