Question:

 

I was hoping you can assist me with a query regarding the tax rates for NZ.

I have searched numerous sites and cannot find anything on any changes to NZ tax for F11 aside from the rate increasing for residential withholding tax.

 

As from 1 April, our system updated tax codes and it seems everyones tax has increased.

 

I’ve had a few questions from employees about this and I honestly have no answer for them aside to say that the “system updated the rates”

 

Are you able to shed some light on this please?  If there is a link to a site that explains the changes, im happy to read through that (it will also come in handy to give to employees).

 

Answer:

On the 1st of April the ACC earner levy increased from $1.70 to $2.00 per $100 of taxable income.  That is why tax has increased.