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Tax Rates

Individual 

Taxable Income Tax Rate 2015 / 2016  Tax Rate 2016/2017
$0 to $14,000 10.5% 10.5%
$14,001 to $48,000 17.5%  17.5%
$48,001 to $70,000 30%  30%
Over $70,000 33%  33%

The earners’ levy rate (including GST) for the period 1 April 2017 is 1.39% ($1.39 per $100).

taxes

Companies

Profits earned by a company, except for profits of a Look Through Company  (LTC), are taxed at the company tax rate of:

  • 28 cents in the dollar for income years 2012 and later.
  • 30 cents in the dollar for income years 2009 to 2011.
  • 33 cents in the dollar for income years 2008 and earlier.


Trusts

  • Trustee income is taxed at 33%
  • Beneficiary income is taxed at the beneficiary’s marginal tax rate, except for distributions to a minor (under age 16 at the balance date of the trust) over $1,000 per trust, which are taxed at the trustee rate of 33%.