What are the New Zealand income tax rates for 2024/25?

New Zealand's 2024/25 income tax rates for individuals (including sole traders) are: | Income Range | Tax Rate | |---|---| | NZ$0 – NZ$14,000 | 10.5% | | NZ$14,001 – NZ$48,000 | 17.5% | | NZ$48,001 – NZ$70,600 | 30% | | NZ$70,601 – NZ$180,000 | 33% | | Over NZ$180,000 | 39% | These are marginal rates — you only pay each rate on the portion of income within that band. For example, if you earn NZ$50,000 as a sole trader, you pay 10.5% on the first NZ$14,000, 17.5% on NZ$14,001–NZ$48,000, and 30% on NZ$48,001–NZ$50,000. You also pay the ACC Earners' Levy at 1.60% on top of income tax.

• Five progressive tax bands from 10.5% to 39%
• No tax-free threshold in New Zealand
• 10.5% on first NZ$14,000
• 17.5% on NZ$14,001–NZ$48,000
• 30% on NZ$48,001–NZ$70,600
• 39% on income above NZ$180,000