Individual income tax return guide 2011 - Inland Revenue Department

www.ird.govt.nz
45
Calculating your tax
Tax on taxable income
You can calculate your tax:
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on our website at “Work it out”
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by using the worksheets on the following pages
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by calling us on our 0800 self-service line—see page 69.
If your taxable income is:
Calculate your tax on
taxable income on:
$0.00 to $14,000 below
$14,001 to $48,000 below
$48,001 to $70,000 page 46
$70,001 or more page 46
Use this worksheet if your taxable income is from $0 to $14,000.
Your tax rate is 11.5 cents in the dollar.
Copy your taxable income from
Box 29 of your return to Box 1.
Multiply Box 1 by 0.115
(11.5 cents in the dollar).
Print your answer in Box 2.
This is the tax on your taxable income.
Copy it to Box 2 on page 47 in this guide.
1
2
Use this worksheet if your taxable income is from $14,001 to
$48,000. Your tax is $1,610 plus 19.25 cents for each dollar in this
tax bracket.
Copy your taxable income from Box 29 of your return to Box 1.
1
2
Subtract Box 2 from Box 1. Print the answer in Box 3.
3
14,000 00 4 1,610 00
00
Multiply Box 3 by 0.1925 (19.25 cents in
the dollar). Print the answer in Box 5.
Add Box 4 and Box 5. Print the answer
in Box 6. This is the tax on your taxable
income. Copy it to Box 2 on page 47
in this guide.
5
6