Budget 2024 Tax Calculator assumptions

The calculations provided by this tool are based on the following assumptions:

  • Calculator results may differ from actual results or from results generated by other agency calculators. These discrepancies can arise due to differences in rounding methods, calculation algorithms, or input precision.
  • Recipients of main benefits, Student Allowance, Paid Parental Leave, Minimum Family Tax Credit, or grandparented transfers, are not covered by the calculator.
  • The calculator does not cover partial year eligibility situations for NZ Super, Working for Families (WFF), Independent Earner Tax Credit (IETC), Best Start, etc.
  • The calculator assumes fortnightly Early Childcare Education (ECE) costs are fixed over the year when estimating the annual gain from FamilyBoost. ECE costs are assumed to be costs remaining after any childcare subsidies have been applied.
  • The calculator does not calculate Accommodation Supplement (AS). The AS entitlement of some NZ Super recipients may change as a result of the policy changes.
  • The calculator assumes that families will apply for WFF if they are eligible. Shared care situations are not considered when calculating WFF entitlements. Maintenance, child support payments, and other criteria such as residency tests may affect WFF eligibility and are also not considered.
  • All non-transfer taxable income input by the user is assumed to be taxed at the standard marginal rates. When this income is zero, it is assumed that the person is not in work. Schedular/withholding payments, income losses, and non-standard tax codes are not considered.

Budget 2024 Tax Calculator
Budget 2024 Home


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