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Income Tax Act 2007

General collection rules - Withholding tax on retirement scheme contributions - Calculating amounts of tax

RH 5: Calculating amounts of tax for retirement scheme contribution

You could also call this:

"How to work out tax on retirement savings"

Illustration for Income Tax Act 2007

To calculate the amount of tax for a retirement scheme contribution, you use the amount determined under schedule 1, part D, clause 7. This clause is about basic tax rates for income tax and other things. You can find the rates you need to calculate the tax for a retirement scheme contribution there.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1690724.

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Topics:
Money and consumer rights > Savings and retirementMoney and consumer rights > Taxes
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"Who can contribute to your retirement scheme"

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RH 6: Calculating amounts of tax on failure to withhold, or

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Part RGeneral collection rules
Withholding tax on retirement scheme contributions: Calculating amounts of tax

RH 5Calculating amounts of tax for retirement scheme contribution

  1. The amount of tax for a retirement scheme contribution is the amount determined under schedule 1, part D, clause 7 (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits).

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Notes
  • Section RH 5: inserted, on , by section 545 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).