IR Updates Aug 2024 to March 2025
- Details
Changes from August 2024
A.C.C Earners Levy
No Changes
Student Loans
No Changes
KiwiSaver
No Changes
Tax Changes
From 31st July 2024 the earnings thresholds are updated to:
$0 to $15,600 at 10.5% (was to $14,000)
$15,601 to $53,500 at 17.5% (was to $48,000)
$53,501 to $78,100 at 30% (was to $70,000)
$78,101 to $180,000 at 33%
Over $180,000 at 39%
Earner Rebate (ME code) thresholds:
$24,000 to $66,000 (was to $44,000) for $10 less tax.
$66,001 to $70,000 (was to $48,000) proportional down to zero
Extra Pay continues at previous April 2024 thresholds.
IR Updates 2024
- Details
Changes from April 2024
Minimum Wage Rates
Adult wage raised to $23.15 p.h.
Training wage raised to $18.52 p.h.
A.C.C Earners Levy
Max earnings threshold raised to $142,283
Levy rate increases to $1.60 (inc) per $100.0
Student Loans
Earnings threshold increases to $464 per week ($24,128 P.A)
KiwiSaver
No Changes
Pay-Day Filing
EMS 348 filing removed.
Tax Changes
From 30th June 2024 it is expected that the earnings thresholds will be updated.
Annualised calculation for Extra Pay confirmed to remain at last four weeks earnings.