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Some services unavailable 16 - 17 November | myIR, gateway services and our self-service phone line will not be available from 3pm Saturday 16 November to 9am Sunday 17 November while we do planned system testing. This will not affect any tax entitlements or payments scheduled during this time.

You might have more than one type of income. Check to see how each type gets taxed and what you need to do.

Earning salary and wages
If you get paid a salary or wages, your employer will deduct tax and the ACC earners' levy before they pay you.

Benefits, NZ superannuation and student allowance
These types of income are taxable and will be included in your end of year tax assessment or IR3 return.

Backdated lump sum payments from ACC and MSD
From 1 April 2024, backdated lump sum payments from the Accident Compensation Corporation (ACC) and the Ministry of Social Development (MSD) are taxed differently and will show as a new income type in myIR.

Overseas income
How tax works when you're a New Zealand tax resident earning overseas income.

Foreign superannuation
If you have a retirement fund outside of New Zealand, any money you withdraw or transfer is taxed using 2 different methods.

Individualised funding
Government-backed programmes pay for services to support people with disabilities, who decide what to do with their own funding.

Insurance payouts
Some insurance pay-outs may be classified as taxable income for tax purposes.

Voluntary work
Getting paid or reimbursed as a volunteer.

Home-based childcare
You may need to pay tax on income you get from providing childcare out of your own home.

Carer Support payments
Whether a support carer is taxed depends on if they provide care in their own home, or in the home of the person who needs care.

Amateur and professional sportspeople
You may need to pay tax on prize money you win from sports events and competitions, even if your code lets you compete as an amateur.

Taxing prize money
You may need to pay tax on prize money you receive from events and competitions.

If you're in business

If you're in business, you may receive income from interest and dividends, foreign investment funds, grants, koha and other sources. You may also get rental income or schedular payments as a contractor.

Types of business income

Self-employed

Schedular payments

Income from direct selling

Residential rental income and paying tax on it

Portfolio investment entity (PIE) income

Last updated: 13 Aug 2024
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