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Income Tax Act 2007

Schedule 31: Annualised equivalent amount for Part M

You could also call this:

“Yearly income calculation guide for tax credits”

This schedule shows how to calculate annualised equivalent amounts for Part M of the Income Tax Act 2007. It’s a table that helps you figure out what your yearly income would be based on different amounts.

The table has two columns. The first column shows different income ranges, starting from $42,700 and going up to $120,500. The second column shows the annualised equivalent amount for each range. For example, if your income is $42,700 or less, the annualised equivalent amount is $42,700.

As your income increases, the annualised equivalent amount also increases. The table goes up in steps of $1,500 until it reaches $120,500. If your income is more than $120,500, the annualised equivalent amount is simply the same as your actual yearly income. This information is used in section MF 3(2)(b) of the Income Tax Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1523391.

Topics:

Money and consumer rights > Taxes

Schedule 29: Portfolio investment entities: listed investors, or

“List of investors considered as "listed investors" for portfolio investment entities”

Schedule 32: Recipients of charitable or other public benefit gifts, or

“List of approved charities that can receive tax-deductible donations for overseas work”

31Annualised equivalent amount for Part M

This is a medium table on 2 pages having 2 columns. The first row on each page is the headings for the columns. Each heading has more than one line of text.
Column 1	Column 2
Annual amount, calculated in accordance with section MF 3(2)(a)	Annualised equivalent amount for section MF 3(2)(b)
	$
Amount does not exceed $42,700	42,700
Amount exceeds $42,700 but does not exceed $44,000	44,000
Amount exceeds $44,000 but does not exceed $45,500	45,500
Amount exceeds $45,500 but does not exceed $47,000	47,000
Amount exceeds $47,000 but does not exceed $48,500	48,500
Amount exceeds $48,500 but does not exceed $50,000	50,000
Amount exceeds $50,000 but does not exceed $51,500	51,500
Amount exceeds $51,500 but does not exceed $53,000	53,000
Amount exceeds $53,000 but does not exceed $54,500	54,500
Amount exceeds $54,500 but does not exceed $56,000	56,000
Amount exceeds $56,000 but does not exceed $57,500	57,500
Amount exceeds $57,500 but does not exceed $59,000	59,000
Amount exceeds $59,000 but does not exceed $60,500	60,500
Amount exceeds $60,500 but does not exceed $62,000	62,000
Amount exceeds $62,000 but does not exceed $63,500	63,500
Amount exceeds $63,500 but does not exceed $65,000	65,000
Amount exceeds $65,000 but does not exceed $66,500	66,500
Amount exceeds $66,500 but does not exceed $68,000	68,000
Amount exceeds $68,000 but does not exceed $69,500	69,500
Amount exceeds $69,500 but does not exceed $71,000	71,000
Amount exceeds $71,000 but does not exceed $72,500	72,500
Amount exceeds $72,500 but does not exceed $74,000	74,000
Amount exceeds $74,000 but does not exceed $75,500	75,500
Amount exceeds $75,500 but does not exceed $77,000	77,000
Amount exceeds $77,000 but does not exceed $78,500	78,500
Amount exceeds $78,500 but does not exceed $80,000	80,000
Amount exceeds $80,000 but does not exceed $81,500	81,500
Amount exceeds $81,500 but does not exceed $83,000	83,000
Amount exceeds $83,000 but does not exceed $84,500	84,500
Amount exceeds $84,500 but does not exceed $86,000	86,000
Amount exceeds $86,000 but does not exceed $87,500	87,500
Amount exceeds $87,500 but does not exceed $89,000	89,000
Amount exceeds $89,000 but does not exceed $90,500	90,500
Amount exceeds $90,500 but does not exceed $92,000	92,000
Amount exceeds $92,000 but does not exceed $93,500	93,500
Amount exceeds $93,500 but does not exceed $95,000	95,000
Amount exceeds $95,000 but does not exceed $96,500	96,500
Amount exceeds $96,500 but does not exceed $98,000	98,000
Amount exceeds $98,000 but does not exceed $99,500	99,500
Amount exceeds $99,500 but does not exceed $101,000	101,000
Amount exceeds $101,000 but does not exceed $102,500	102,500
Amount exceeds $102,500 but does not exceed $104,000	104,000
Amount exceeds $104,000 but does not exceed $105,500	105,500
Amount exceeds $105,500 but does not exceed $107,000	107,000
Amount exceeds $107,000 but does not exceed $108,500	108,500
Amount exceeds $108,500 but does not exceed $110,000	110,000
Amount exceeds $110,000 but does not exceed $111,500	111,500
Amount exceeds $111,500 but does not exceed $113,000	113,000
Amount exceeds $113,000 but does not exceed $114,500	114,500
Amount exceeds $114,500 but does not exceed $116,000	116,000
Amount exceeds $116,000 but does not exceed $117,500	117,500
Amount exceeds $117,500 but does not exceed $119,000	119,000
Amount exceeds $119,000 but does not exceed $120,500	120,500
Amount exceeds $120,500	the number of dollars of the annual amount

Notes

Schedule 31: amended, on 1 July 2018, by section 255(1) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
Schedule 31: amended, on 1 July 2018, by section 255(2) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
Schedule 31: amended, on 1 October 2008, by section 52(a) of the Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Act 2008 (2008 No 36).
Schedule 31: amended, on 1 October 2008, by section 52(b) of the Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Act 2008 (2008 No 36).
Schedule 31: amended, on 1 October 2008, by section 52(c) of the Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Act 2008 (2008 No 36).
Schedule 31: amended, on 1 October 2008, by section 52(d) of the Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Act 2008 (2008 No 36).