Tax Freedom Day Fall on Thursday in New Zealand

May 23, 2016 New Zealand Taxation

New Zealand taxIn a few days time the average New Zealand taxpayer would have earned enough to pay their taxes for the year.

In a press release issued on May 23rd the New Zealand Taxpayers’ Union revealed that Tax Freedom Day in 2016 falls on the same day as the national budget announcement, May 26th.

According to the Tax Payer’s Union, the general government outlays of the New Zealand government are 40 percent, meaning that Tax Freedom Day will fall at 11:12am on Thursday.

Tax Freedom Day is a hypothetical measure of how long an average taxpayer needs to work in order to pay for their entire tax obligation for the year.

The fall of Tax Freedom Day is 3 days later than in Canada, and 15 days later than in Australia.

Photo by yum9me