September 30, 2010
Personal tax cuts from 1 October 2010 will boost take home pay for New Zealand workers. NZIER has updated its personal tax calculators to allow comparison with Australia. New Zealand’s new personal tax regime is less onerous for high income earners than Australia’s. But as Australia’s average weekly wage is about 40% higher in Australia, a typical family is much better off in Australia if disposable income is the measure. Our model family’s after tax income is 33% higher in Australia.