NZ Tax Year Comparison
See what changed between 2024-25 and 2025-26, and compare your take-home pay across both years.
Rate & Threshold Changes
| Item | 2024-25 | 2025-26 |
|---|---|---|
| Tax brackets | 10.5% / 17.5% / 30% / 33% / 39% | 10.5% / 17.5% / 30% / 33% / 39% |
| Bracket thresholds Changed | $14.5k / $49.9k / $72.7k / $180k | $15.6k / $53.5k / $78.1k / $180k |
| ACC earner's levy rate Changed | 1.60% | 1.67% |
| ACC levy cap Changed | $142,283 | $152,790 |
| Max ACC levy Changed | $2,276.53 | $2,551.59 |
| KiwiSaver minimum rate | 3% | 3% |
| Student loan threshold | $24,128 | $24,128 |
| Student loan repayment rate | 12% | 12% |
| GST rate | 15% | 15% |
| GST registration threshold | $60,000 | $60,000 |
| IETC (max credit) | $520 | $520 |
| Minimum wage (adult) | $23.15/hr | $23.15/hr |
Rows highlighted in blue indicate changes from the previous year.
Compare Your Take-Home Pay
Enter your annual income to see the exact dollar difference between tax years.
Frequently asked questions
Did NZ tax brackets change for 2025-26?
Yes. While the rates (10.5%, 17.5%, 30%, 33%, 39%) are unchanged, the thresholds were raised following Budget 2024. The first bracket now covers up to $15,600 (was $14,530 effective in 2024-25), and the 30% bracket starts at $53,500 (was $49,883). This means most earners pay slightly less tax.
What changed between 2024-25 and 2025-26?
Several changes: income tax bracket thresholds increased (Budget 2024), and the ACC earner's levy rose from 1.60% to 1.67% with a higher cap ($152,790). The student loan repayment threshold remains at $24,128.
Will I pay more tax in 2025-26?
Most earners will pay slightly less income tax due to the higher bracket thresholds. However, the ACC levy rate increased from 1.60% to 1.67%, which partially offsets the savings. The net effect depends on your income level.
Sources: IRD — Tax rates, ACC — Levy rates. Last updated March 2026.
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