Individual income tax return guide 2011 - Inland Revenue Department

www.ird.govt.nz
39
Calculating your tax credit for income under $9,880
Worksheet for income under $9,880 tax credit
Work out the number of weeks you can claim for. They must be whole
weeks of 20 hours or more.
Print the number of weeks you worked
20 hours or more in Box 1.
1
Print the number of weeks, if any, you were
on accident compensation in Box 2.
Print the number of weeks, if any, you were
on a benefit paid for sickness or accident
in Box 3.
Add Boxes 1, 2 and 3. Print the answer in
Box 4. Copy this number to Box 30A of
your return.
2
3
4
Use this panel only if your income after expenses in Box 27
of your return is less than $6,241
Multiply the number in Box 4 by $12.88.
Print your answer in Box 5. This is your tax
credit. Copy it to Box 30 of your return.
5
Use this panel only if your income after expenses in Box 27
of your return is between $6,241 and $9,880
Copy your income after expenses from
Box 27 of your return to Box 7.
Subtract Box 7 from Box 6.
Print the answer in Box 8.
Multiply the amount in Box 8 by 0.184
(18.4 cents in the dollar).
Print your answer in Box 9.
Copy the number of weeks from Box 4 to
Box 10.
Multiply Box 9 by Box 10.
Print the answer in Box 11.
Divide Box 11 by 52.
Print the answer in Box 12.
This is your tax credit. Copy it to Box 30
of your return.
6
7
8
9
10
11
12
9,880 00