Individual 

Taxable Income	Tax Rate 2012 / 2013	Tax Rate 2013/2014
$0 to $14,000	10.5%	10.5%
$14,001 to $48,000	17.5%	17.5%
$48,001 to $70,000	30%	30%
Over $70,000	33%	33%

 

The earners’ levy rate (including GST) for the period 1 April 2013 to 31 March 2014 is 1.70% ($1.70 per $100) same as the 2012/2013 financial year.

Companies

Profits earned by a company, except for profits of a Look Through Company  (LTC), are taxed at the company tax rate of:

• 28 cents in the dollar for income years 2012 and later.
• 30 cents in the dollar for income years 2009 to 2011.
• 33 cents in the dollar for income years 2008 and earlier.

Trusts

• Trustee income is taxed at 33%
• Beneficiary income is taxed at the beneficiary’s marginal tax rate, except for distributions to a minor (under age 16 at the balance date of the trust) over $1,000 per trust, which are taxed at the trustee rate of 33%.