Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Core provisions - Calculating and satisfying income tax liabilities

BC 2: Annual gross income

You could also call this:

“The total taxable money you earn in a year”

Your annual gross income for a tax year is all the money you earn that the government can tax. This includes all your assessable income that belongs to that specific income year.

When you earn money, it’s not always counted in the same year you receive it. The government has rules about which income year your earnings belong to. Your annual gross income is the total of all the income that fits into a particular tax year according to these rules.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1512333.

Topics:
Money and consumer rights > Taxes
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BC 1: Non-filing and filing taxpayers, or

“Explains how your tax status affects how your income tax is calculated”

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BC 3: Annual total deduction, or

“The total amount you can deduct from your income for the tax year”

Part B Core provisions
Calculating and satisfying income tax liabilities

BC 2Annual gross income

  1. A person's annual gross income for a tax year is the total of their assessable income that is allocated to the corresponding income year.

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