Plain language law
New Zealand law explained for everyone
BD 1: Income, exempt income, excluded income, non-residents' foreign-sourced income, and assessable income
or “Different types of income and how they're taxed in New Zealand”
or “Different types of income and how they're taxed in New Zealand”
You could also call this:
“Lowering your tax bill with allowed deductions”
You can take off some money from what you owe in taxes. This is called a deduction. You’re allowed to do this if the rules in Part D say it’s okay. Part D is the part of the law that talks all about deductions.
This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.
Next up: BD 3: Allocation of income to particular income years
or “Rules for assigning income to specific tax years”