Navigating New Tax Changes: What You Need To Know

From 1 August 2024, new tax changes have come into effect in New Zealand, bringing adjustments that could impact your payslip, tax codes, and overall take-home pay. Here’s a clear breakdown of what’s changed, what to keep an eye on, and how to ensure you're set up correctly.

What Are the Changes?

The key change is an increase in the income tax thresholds, which means you could end up paying less in tax on your earnings. Here’s how the new brackets look:

Read More: Navigating New Tax Changes: What You Need to Know » Lifetime

Source: Lifetime