Fact Sheet: Tax Cuts Since 1986

Government & Dates

1 October 1986 – Labour

1 October 1988 – Labour

1 July 1996 – National

1 July 1998 – National

1 October 2008 – Labour

1 April 2009 – National

1 October 2010 – National

Details

.

1 October 1986 – Labour

.

1 October 1988 – Labour

.

1 July 1996 – National

.

1 July 1998 – National

.

1 October 2008 – Labour

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Tax rates and thresholds
Tax rates and thresholds
Current
15%
21%
33%
39%
up to
$9,500 $38,000 $60,000 above $60,000
New
12.5%
21%
33%
39%
from 1 October 2008
$14,000 $40,000 $70,000 above $70,000

http://www.treasury.govt.nz/budget/2008/execsumm/02.htm

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1 April 2009 – National

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Tax scale from 1 April 2009

12.5c per $1 on income up to $14,000
21c per $1 on income between $14,001 and $48,000
33c per $1 on income between $48,001 and $70,000
38c per $1 on income over $70,000

Independent earner tax credit (IETC) from 1 April 2009

$10 per week on income between $24,000 and $44,000
Annual entitlement abated at 13c per $1 over $44,000
$0 per week on income of $48,000 and over

http://www.treasury.govt.nz/budget/2009/taxpayers/01.htm

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1 October 2010 – National

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Average Marginal Income Tax Rates for New Zealand, 1907-2009
Fiona McAlister, Debasis Bandyopadhyay, Robert Barro, Jeremy Couchman, Norman Gemmell and Gordon Liao

NEW ZEALAND TREASURY WORKING PAPER 12/04
SEPTEMBER 2012

Government tax revenue by source, 1903 – 2011

Source

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