Individual income tax return guide 2011 - Inland Revenue Department
Individual income tax return guide 2011 - Inland Revenue Department
Individual income tax return guide 2011 - Inland Revenue Department
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www.ird.govt.nz<br />
45<br />
Calculating your <strong>tax</strong><br />
Tax on <strong>tax</strong>able <strong>income</strong><br />
You can calculate your <strong>tax</strong>:<br />
––<br />
on our website at “Work it out”<br />
––<br />
by using the worksheets on the following pages<br />
––<br />
by calling us on our 0800 self-service line—see page 69.<br />
If your <strong>tax</strong>able <strong>income</strong> is:<br />
Calculate your <strong>tax</strong> on<br />
<strong>tax</strong>able <strong>income</strong> on:<br />
$0.00 to $14,000 below<br />
$14,001 to $48,000 below<br />
$48,001 to $70,000 page 46<br />
$70,001 or more page 46<br />
Use this worksheet if your <strong>tax</strong>able <strong>income</strong> is from $0 to $14,000.<br />
Your <strong>tax</strong> rate is 11.5 cents in the dollar.<br />
Copy your <strong>tax</strong>able <strong>income</strong> from<br />
Box 29 of your <strong>return</strong> to Box 1.<br />
Multiply Box 1 by 0.115<br />
(11.5 cents in the dollar).<br />
Print your answer in Box 2.<br />
This is the <strong>tax</strong> on your <strong>tax</strong>able <strong>income</strong>.<br />
Copy it to Box 2 on page 47 in this <strong>guide</strong>.<br />
1<br />
2<br />
Use this worksheet if your <strong>tax</strong>able <strong>income</strong> is from $14,001 to<br />
$48,000. Your <strong>tax</strong> is $1,610 plus 19.25 cents for each dollar in this<br />
<strong>tax</strong> bracket.<br />
Copy your <strong>tax</strong>able <strong>income</strong> from Box 29 of your <strong>return</strong> to Box 1.<br />
1<br />
2<br />
Subtract Box 2 from Box 1. Print the answer in Box 3.<br />
3<br />
14,000 00 4 1,610 00<br />
00<br />
Multiply Box 3 by 0.1925 (19.25 cents in<br />
the dollar). Print the answer in Box 5.<br />
Add Box 4 and Box 5. Print the answer<br />
in Box 6. This is the <strong>tax</strong> on your <strong>tax</strong>able<br />
<strong>income</strong>. Copy it to Box 2 on page 47<br />
in this <strong>guide</strong>.<br />
5<br />
6