New Tax Brackets 2024 Nz

New Tax Brackets 2024 Nz. Our government will raise income tax thresholds to help compensate for wage growth, expand eligibility for the independent earner tax credit, introduce the familyboost. How much tax you pay depends on your taxable income.

The new bands mean that the 10.5 percent tax rate applies on income to $15,600, while the 17.5 percent tax rate will apply to income between $15,601 and $53,500. Change extra pay rate thresholds from 1 april 2025.