New Zealanders Payout $1.5 Million Tax in Life

May 22, 2017 Taxation in New Zealand

WELLINGTON – New Zealanders are spending 15 years per household to pay off their tax obligations.

On May 22nd the New Zealand taxpayer advocacy group the Taxpayers’ Union published a new report showing that an average household in the country pays as much as NZD 1.48 million in tax over the course of its lifetime.

The total amount of tax paid is calculated based on an adjusted salary of NZD 98 818.

Based on the calculations, the average New Zealand household pays out approximately 15 years of earnings in the form of taxes.

For the average family, the total amount of taxes paid is made up of approximately NZD 826 000 in income taxes, NZD 375 000 in GST, NZD 121 000 local council rates, and NZD 40 000 petrol taxes.

Any households that fall significantly far from the average earner, either above or below, will take an longer to pay all of the taxes that they will eventually owe.