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Tax Planning for Individuals in New Zealand

October 20, 2010 New Zealand FinanceNew Zealand Taxation

Piggy savings bankThere are numerous perfectly legal and accepted ways to ensure that New Zealand taxpayers are not overpaying their tax liabilities and maximizing any existing tax benefits that the Government provides. Below is a list provided by an international tax adviser, Ed Kruger, explaining the easiest steps one can take to ensure that their taxes are optimized and that they do not needlessly squander their money.

Correct Tax Code
For a PAYE earner, choosing the right tax code is the fundamental step to ensuring that a correct tax liability is paid. If you provide your employer with a tax code that results in tax underpayment, the Inland Revenue Department will not stay quite about it, and will provide you with a nasty surprise at the end of the tax year...

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