Part-Year Tax Refund Calculator

If you only worked part of the tax year, this calculator estimates the tax refund you are probably owed. It is built for the situations where over-taxing is most common: students with a summer or holiday job, school and university leavers starting their first role mid-year, and anyone who worked for only part of the year from 1 April to 31 March. The cause is the way PAYE is deducted. Each time you are paid, the tax is worked out as if you will earn at that rate for a full year. So a student earning $900 a fortnight over summer has tax deducted at the rate of someone earning that every fortnight for twelve months, even though the real annual income is far lower and most of it should be taxed in the bottom 10.5 percent and 17.5 percent brackets. The gap between the tax deducted and the tax actually owed on your real income is your refund. You simply enter the total gross pay you earned across the tax year, from all jobs, and the total PAYE tax that was deducted, both of which are on your payslips or in myIR. The calculator shows the tax you actually owe on that income, allowing for the Independent Earner Tax Credit if you qualify, and the estimated refund. The good news is that you usually do not need to do anything: after 31 March, Inland Revenue issues an automatic assessment, normally between late May and July, and pays any refund into your bank account, so it pays to keep your bank and contact details current in myIR. This is an estimate, not an official assessment.

Income tax only. After 31 March, IRD usually auto-assesses and pays refunds from late May. Keep your bank details current in myIR. An estimate, not an IRD assessment.