Changes to the Personal Exemption Threshold
From January 2020, the proposed personal tax exemption threshold for individuals will be increased from $15,080 to $30,080. This means that individuals – both employees and self employed – will not pay tax on the first $30,080.00 they earn.
For any income earnt over $30,080.00 the rates of tax remain the same as set out below:
| $1 - $15000 | 11% |
| $15001 - $30000 | $1650 + 23% of excess |
| $30 001 - $60000 | $5100 + 35% of excess |
| $60 000 and over | $15600 +40% of excess |
If you want to find out more about these changes please click on the relevant link below:
Employers will need to use new tax tables from 1 January 2012. Inland Revenue can supply you these tables in paper or electronic form or they can also be accessed below:
- Weekly PAYE Table
- Fortnightly PAYE Table
- Bi-Monthly PAYE Table
- Monthly PAYE Table
- Instant Tax Calculator