Taxable income in New Zealand is based on the following:

• $0-$14 000=10.5%
• $14 001-$48 000=17.5%
• $48 001-$70 000=30%
• $70 000 and above=33%

company income is taxed at the rate of 28%

Non-resident tax withholding is a flat rate of 15%

tax year: Apr. 1- Mar. 31

• All taxes are due before July 7th to the Inland revenue department
• but there is an extension up until Mar. 31 the following year.

Tax are made in 3 installments:

• August 28
• January 15
• May 7

Capital gains: generally not on New Zealand investments but applies to foreign debt and equity investments.

Income from overseas investments or pensions can be exempted from New Zealand tax for your first 4 years of living there, if you are obliged for transitional tax resident status.

source: Inland Revenue Department

• 27271005 (PM Molefe)
• 26913534 (TL Masiangwako)

The South African Revenue Service missed its first-quarter tax revenue target by R13.1bn, a document in Fin24’s possession reveals.

If this trend continues, it would miss its overall target by about R50bn in 2017. SARS set a collection target of R1.265trn for the year, the document says.

A shortfall of this scale would have a severe impact on Finance Minister Malusi Gigaba’s  Medium Term Budget Policy Statement (MTBPS) in October, where he will need to find extra revenue to allocate to budgets planned for social grants, state-owned entities, departments, provinces and municipalities.

The country's 2017 budget started the year with a deficit of R149bn, which was 3.1% of the country's gross domestic product (GDP).

source: News24