IETC Calculator NZ

This calculator works out whether you qualify for the Independent Earner Tax Credit (IETC) and how much you can claim. The IETC is a tax credit worth up to $520 a year, about $10 a week, for New Zealanders earning between $24,000 and $70,000 who are not already receiving other government support. You enter your annual income, and the calculator instantly shows your IETC for the year, the equivalent weekly amount, and your eligibility status. Between $24,000 and $66,000 you receive the full $520. Above $66,000 the credit reduces by 13 cents for every extra dollar earned, phasing out completely at $70,000. Below $24,000, or above $70,000, you are not entitled to anything. The IETC is only available if you do not receive Working for Families tax credits, an income-tested benefit, NZ Superannuation, a veteran's pension, or an overseas equivalent. You can take the credit through your tax code across the year, lifting your regular pay, or claim it as a lump sum from Inland Revenue after the tax year ends. Use this calculator to check your entitlement before adjusting your tax code, or to confirm what you should expect back at year end. Figures are based on current IRD thresholds and are indicative only, so confirm your exact position with Inland Revenue or a tax professional.

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You must not receive Working for Families, a main benefit, NZ Super, or an overseas pension to claim the IETC.