New Zealand: Thoughts After Seven Years, Part 4, by Nivek
Part 4 Taxes, everybody’s favorite topic New Zealand has a top tax rate of 33%. Okay, you think that’s not bad, the U.S. is right up there also. Well the trouble is you get to the 33% much faster as there are only three tax brackets. Making over $65,000 NZ Dollars per year will get you into the top bracket. That’s around $50,000 US Dollars. There are no deductions for a private person and you don’t get credit for kids or being married. The way around this seems to involve having a business and taking deductions through the business. …