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Income Tax Bands & Rates

Coins
 
 
2008-09
2007-08
Taxable Bands
Rate
Taxable Bands
Rate
0 - 2,320
10%*
0 - 2,230
10%
2,321 - 34,800
20%**
2,231 - 34,600
22%**
Over 34,800
40%***
Over 34,600
40%***


* Only applies to savings income

** Dividends taxed at 10% (and savings income 20% in 2007/08)

*** Dividends taxed at 32.5% of the gross dividend.

Other income is taxed first, then savings and then dividends.

 
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