1Taxable income: general

1. To the extent to which a person does not have a basic rate under clauses 2 to 14, the basic rate of income tax for the person on each dollar of the person's taxable income is calculated using the formula—

   $tax\; under\; table\; 1\; ÷\; taxable\; income:$

   Where:
2. tax under table 1 means the total tax, calculated for each dollar in the person’s taxable income, using table 1:
3. taxable income means the number of dollars in the person’s taxable income.

Table 1

The following table is small in size and has 3 columns. Column 1 is headed Row. Column 2 is headed Range of dollar in taxable income. Column 3 is headed Tax rate.

Row	Range of dollar in taxable income	Tax rate
1	$0 – $14,000	0.1050
2	$14,001 – $15,600	0.1282
3	$15,601 – $48,000	0.1750
4	$48,001 – $53,500	0.2164
5	$53,501 – $70,000	0.3000
6	$70,001 – $78,100	0.3099
7	$78,101 – $180,000	0.3300
8	$180,001 upwards	0.3900

How to use this table: Find the range in the second column for each dollar in the person's taxable income, and apply the relevant rate for the dollar in the third column.

Notes
• Schedule 1 part A clause 1: amended, on 1 April 2024, by section 121(1) of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).
• Schedule 1 part A clause 1: amended (with effect on 1 April 2011 and applying for the 2011–12 and later income years), on 27 February 2014, by section 128(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).
• Schedule 1 part A table 1: replaced (with effect on 1 April 2024), on 4 June 2024, by section 7(1) (and see section 7(4) for application) of the Taxation (Budget Measures) Act 2024 (2024 No 19).

2Taxable income: companies

1. To the extent to which a company does not have a basic rate under clauses 3 to 9, the basic rate of income tax for the company on each dollar of the company’s taxable income is 0.28.

3Taxable income: trustees

1. To the extent to which a trustee does not have a basic rate under clause 4, 5, 6, or 6B, the basic rate of income tax for the trustee on each dollar of the trustee’s taxable income is 0.39.

4Taxable distribution: non-complying trust

1. The basic rate of income tax on each dollar of a taxable distribution made by a non-complying trust is 0.45.

5Schedular taxable income: category A income

1. The basic rate of income tax for a trustee on each dollar of the trustee’s schedular taxable income that is for category A income is 0.28.

6Taxable income: trustees of certain funds

1. To the extent to which a trustee does not have a basic rate under clause 4 or 5, the basic rate of income tax on each dollar of taxable income is 0.28 if the income is of a trustee of—

2. an approved unit trust to which the Income Tax Act (Exempt Unit Trusts) Order 1990 applies:
3. a widely-held GIF:
4. a widely-held superannuation fund:
5. a legacy superannuation fund.

6BTaxable income: trustees of certain trusts and estates

1. To the extent to which a trustee does not have a basic rate under clause 4, the basic rate of income tax on each dollar of the trustee’s taxable income is 0.33 if the trustee is a trustee of—

2. a disabled beneficiary trust:
3. an estate referred to in section HC 8B (Trustee income in income year of person’s death and following 3 income years):
4. a lines trust:
5. a de minimis trust.

7Taxable income: Maori authorities

1. The basic rate of income tax for a Maori authority on each dollar of the Maori authority’s taxable income is 0.175.

8Schedular taxable income: schedular policyholder base income

1. The basic rate of income tax for a person on each dollar of the person’s schedular taxable income that is for schedular policyholder base income is 0.28.

9Investment income from portfolio investment entities

1. The basic rate of income tax for a person who is an investor in a PIE on each dollar of income attributed by the PIE is the rate set out in schedule 6 as notified by the person to the PIE.

10Taxable income: New Zealand Superannuation Fund

1. The basic rate of income tax on each dollar of taxable income derived by the Crown through the New Zealand Superannuation Fund is the rate applying to companies set out in clause 2.

11Schedular taxable income: life insurance premiums derived by Lloyd’s of London

1. The basic rate of income tax for a person on each dollar of the person’s schedular taxable income that is income under section CR 3B (Lloyd’s of London: income from life insurance premiums) is 0.28.

12Taxable income: Venture Capital Fund

1. The basic rate of income tax on each dollar of taxable income derived by the Crown through the VCF is the rate applying to companies set out in clause 2.

13Schedular taxable income: accident compensation payments for period of more than 1 year

1. The basic rate of income tax for a person on each dollar of the person’s schedular taxable income that is income from a payment to which section RD 20B (Payments of accident compensation for periods of more than 1 year) applies is the tax rate given by section RD 20B(3) for the payment and the tax year in which the person derives the payment.

14Schedular taxable income: recalculated main benefit payments

1. The basic rate of income tax for a person on each dollar of the person’s schedular taxable income that is income from a payment to which section RD 20C (Payments of recalculated main benefit) applies is the rate of income tax given by section RD 20C(3) for the payment and the tax year in which the person derives the payment.

1Amount of tax for section RD 67(a)

1. For the purposes of section RD 67(a), the amount of tax is determined by applying the relevant rate given by table 1 to each dollar of an employer’s superannuation contribution.

   Table 1

   The following table is small in size and has 3 columns. Column 1 is headed Row. Column 2 is headed ESCT rate threshold amount. Column 3 is headed Tax rate.

   Row	ESCT rate threshold amount	Tax rate
   1	$0 – $16,800	0.105
   2	$16,801 – $57,600	0.175
   3	$57,601 – $84,000	0.300
   4	$84,001 – $216,000	0.330
   5	$216,001 upwards	0.390

   How to use this table: Find the range in the second column for the last dollar of the ESCT rate threshold amount, and apply the relevant rate in the third column.

2Amount of tax for section RD 67(b) (Repealed)

3Interest: general

1. If clause 4 does not apply, the payment rate for a payment of resident passive income that consists of interest is set out in table 2.

   Table 2

   The following table is medium in size and has 3 columns. Column 1 is headed Row. Column 2 is headed Conditions. Column 3 is headed Payment rate.

   Row	Conditions	Payment rate
   1	The payer of the interest has not been supplied with the tax file number of a person who is paid the interest.	0.450
   2	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person; and
   	(b)		has not received a payment rate election from the recipient of the interest; and
   	(c)		is not required to use a rate notified by the Commissioner under section 26B of the Tax Administration Act 1994.	0.330
   3	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person who is paid the interest; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.390 payment rate.	0.390
   4	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person who is paid the interest; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.330 payment rate.	0.330
   5	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person who is paid the interest; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.300 payment rate.	0.300
   6	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person who is paid the interest; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.175 payment rate.	0.175
   7	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person, other than a trustee, who is paid the interest; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.105 payment rate; and
   	(c)		the recipient has a reasonable expectation at the time of the election that their income for the income year will be $15,600 or less.	0.105
   8	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person who is paid the interest as a trustee of a testamentary trust to which section HC 37 applies; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.105 payment rate.	0.105

   How to use this table: Find the applicable condition in the second column, in order to find the relevant rate to apply, in the third column.

4Interest: most companies

1. The payment rate for a payment of resident passive income that consists of interest is set out in table 3 if the recipient of the payment is a company that is not a Maori authority.

2. For the purposes of subclause (1), a company includes a company that is acting in the capacity of trustee for a portfolio investment entity.

   Table 3

   The following table is medium in size and has 3 columns. Column 1 is headed Row. Column 2 is headed Conditions. Column 3 is headed Payment rate.

   Row	Conditions	Payment rate
   1	The payer of the interest has been supplied with the tax file number of a person who is paid the interest, and neither of rows 2 and 3 apply.	0.280
   2	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person who is paid the interest; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.330 payment rate.	0.330
   3	The payer of the interest—
   	(a)		has been supplied with the tax file number of a person who is paid the interest; and
   	(b)		has received a payment rate election from the recipient of the interest choosing the 0.390 payment rate.	0.390
   4	The payer of the interest has not been supplied with the tax file number of a person who is paid the interest.	0.450

   How to use this table: Find the applicable condition, in the second column, in order to find the relevant rate to apply, in the third column.

5Dividends and replacement payments

1. The payment rate for a payment of resident passive income that consists of a dividend, or a replacement payment under a share-lending arrangement, is 0.33.

6Taxable Maori authority distributions

1. The payment rate for a payment of resident passive income that consists of a taxable Maori authority distribution is set out in table 4.

   Table 4

   This is a small table having 3 columns. The first row is the headings for the columns. The entries in column 2 have more than 1 line of text and 1 has paragraphs and subparagraphs. The entries in column 3 are on the same line as the last line of the entry in column 2.

   Row	Conditions	Payment rate
   1	The Maori authority makes a taxable Maori authority distribution and does not meet the condition for the 0.390 payment rate in row 2.	0.175
   2	The Maori authority:
   	makes a taxable Maori authority distribution that is more than $200; and
   	does not have a record of the tax file number of the member to whom the distribution is made.	0.390

   How to use this table: Find the applicable condition, in the middle column, in order to find the relevant rate to apply, in the right column.

7Retirement scheme contributions

1. The payment rate for an amount of a retirement scheme contribution made by a retirement scheme contributor for a person is set out in table 5.

   Table 5

   The following table is small in size and has 3 columns. Column 1 is headed Row. Column 2 is headed Conditions. Column 3 is headed Payment rate.

   Row	Conditions	Payment rate
   1	The person responsible for withholding RSCT—
   	has been notified under section 28C of the Tax Administration Act 1994 that 10.5 cents in the dollar is the person's retirement scheme prescribed rate; and
   	has been supplied with the tax file number of the person.	0.105
   2	The person is a non-resident and a distribution of no more than $200 is made to them by a retirement scheme contributor that is a Maori authority.	0.105
   3	The person responsible for withholding RSCT—
   	has been notified under section 28C of the Tax Administration Act 1994 that 17.5 cents in the dollar is equal to or greater than the person's retirement scheme prescribed rate; and
   	has been supplied with the tax file number of the person.	0.175
   4	The person responsible for withholding RSCT—
   	has been notified under section 28C of the Tax Administration Act 1994 that 30 cents in the dollar is equal to or greater than the person's retirement scheme prescribed rate; and
   	has been supplied with the tax file number of the person.	0.300
   5	The person responsible for withholding RSCT— has been notified under section 28C of the Tax Administration Act 1994 that 33 cents in the dollar is equal to or greater than the person's retirement scheme prescribed rate; and has been supplied with the tax file number of the person.	0.330
   6	When none of rows 1 to 5 apply.	0.390

   How to use this table: Find the applicable condition in the second column, in order to find the relevant rate to apply, in the third column.