Guitar Mad Pom

Hi all, have done a lot of reading on here regarding the cost of living in NZ. Seems to often provoke a lot of discussion with many varied opinions! We are busy planning out our finances, so my questions are.....
1 what are the tax levels in NZ, I have seen NZ$30000 and under is taxed at 19.5% what about above that figure, is there an equivalent to national insurance to be paid as well?
2. Are there any child tax credits as in the UK, we have two kids aged 13 and 7
3. Are there any allowances such as married mans allowance, are couples taxed together, individually or is there a choice as in the UK.

Final question, any links to sites for buying cars (second hand) for when we get there. Not interested in flash ones as such, I drive, escorts , mondeo type vehicles so interested in equivalent Uk prices of £1500+ I hear for that you can get some good deals. Also tax and insurance, how do they pan out?

Thanks in advance for any help...

Graham

Don

Cheapest and best place to buy a cheap second hand car is at auction www.turners.co.nz - NZD5K would buy you a good runner.

bookemjano

This tax bracket thing confuses me as well - there's a rate of 19.5% for up to $38,000, then 33% for $38,001 to $60,000, and then 39% for $60,001 over - I assume this means that if you earn up to $60,000 the first $38,000 is taxed at 19.5%, then 33% on the rest, surely you're not taxed 33% on it all? Anyone got the answer, it makes a big difference to your budget doesn't it?

Re allowances, it's the same for everyone as far as I understand and everyone is taxed individually. Someone please correct me if I'm wrong.

Don

It's as you said, the first tranche is taxed at 19.5%.

sunshine_and_rain

You can claim child benefit from the UK for a 6 month period - as long as you DON't tell them you are definately not comig back. If you think you might go home after 1 year for example you can still claim it for 6 months. I did the 1st time we came here as was a 12 month fixed term stay here. Just thought it might be worth knowing.

the turner family

Hi,

We have had the same sort of problems. I found a program download that you put your prospective wage into and it works out your take home.

Computerware Services Ltd is listed as the author
and the program is called PAYE Calculator

I am sorry I can't remember where I got it from! If you like I can send it to you via an e-mail.

Good luck

Matt

Guitar Mad Pom

Thanks for the replies all. Will be checking out the wheels Don
Handy to know about the UK child benefit sunshine, every little helps and will be checking out the paye calculator, thanks turner family. Where abouts are you in spain turner family, we looked at nerja on costa del sol, unfortunately due to family issues we never made it and now is wrong time with kids ages and scholling, so NZ here we come...... can't wait.

the turner family

Good luck finding the calculator. If you don't locate it let me know and I will e-mail it to you. We are living very close to Gibraltar at the southern end of the Costa Del Sol. I work in Gib too. We have been here for about two years.
Our kids are only 5 and 3 so schooling was not a problem, they love Spanish school and Charlotte speaks MUCH better Spanish than I do!

We have just got a buyer for the house so all being well (fingers crossed) we will be moving soon.

Matt and Andrea (The Turner Family)