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NZ Income tax - you may be entitled to a refund

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  • 24-03-2009 8:59am
    #1
    watna
    Closed Accounts Posts: 10,367 ✭✭✭✭


    Hi all, because the NZ tax system is so unusual if you have not worked for a full year (e.g. I started working in June and the tax year is April to March) then you may be entitled to a refund. They calculate tax on the basis you have earned all year. If you earned less than a certain amount then you are entitled to a rebate. Most people who arrived in NZ in the middle of a tax year (i.e. started working after March) will be entitled to some kind of refund.

    I got emergency taxed when I got here but by using this online calculator on the IRD it turns out they owe me quite a bit of money otherwise.

    /rubs hands in glee and dreams of shoes

    The 2009 (i.e. the tax year 1st april 2008 - 31st march 2009) calculator is not available yet but will be next week after 1st April. I used the 2008 one just to see because I knew they owed me money (the baxtards!).

    Here is the link to the 2008 online tax calculator http://www.ird.govt.nz/calculators/tool-name/tools-p/calculator-pts-calculator-2008.html?id=righttab-. This will give you what you would have been refunded last year but if you want to check now it will give you an idea. Just remember to go online next week and look for the 2009 one.


    To do the calcualtion, you'll need your summary of earnings for the year and the tax you paid (if work cannot give you one you can ask the IRD to send you one). I used my last payslip from work and used the yield to date fields (I have one more paycheck in this tax year but it will still give me a rough idea.) If you are owed a refund you request a personal tax statment from the IRD they give you your monies. If you owe them - say nothing (it actually tells you to do nothing on the IRD website, preumably they're coming after you anyway!)

    Hope you all get a refund!


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    #2
    BattyInNZ
    Registered Users Posts: 70 ✭✭BattyInNZ


    If you don't want to be bothered doing all the work yourself .... I used these http://www.taxrefund.co.nz and they went back to June 2005 when I arrived and I got just under $700. They charge a commission but it was feck all and all I had to do was enter was register - the only thing they wanted apart from name, address and email was my IRD number. Easy peasy :cool:


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