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comparing tax in canada with new zealand

CanadaNew ZealandDifference in New Zealand
Gross Income 51,172.68 CAD / 30,000.00 GBP 60,092.76 NZD / 30,000.00 GBP - 0.00 GBP
Tax Due 11,825.29 CAD / 6,932.58 GBP 11,883.12 NZD / 5,932.39 GBP - 1,000.19 GBP
Net Income 39,347.39 CAD / 23,067.42 GBP 48,209.64 NZD / 24,067.61 GBP + 1,000.19 GBP
Overall Tax Rate 23.1 % 19.8 % - 3.30 %.

Figures based upon 1 CAD = 0.58625032 GBP.

Figures based upon 1 NZD = 0.49922819 GBP.

In Canada, an income of 51,172.68 CAD / 30,000.00 GBP is more than the lowest average advertised salary of 29,660.00 CAD / 17,388.18 GBP and less than the country's average income of 56,000.00 CAD / 32,830.02 GBP.

In New Zealand, an income of 60,092.76 NZD / 30,000.00 GBP is more than the lowest average advertised salary of 25,000.00 NZD / 12,480.70 GBP and less than the country's average income of 62,200.00 NZD / 31,051.99 GBP.

Here are how much some common purchases cost in Canada vs New Zealand:

CanadaNew ZealandDifference in New Zealand
Water Bottle (1.5L) 2.22 CAD / 1.30 GBP 1.84 NZD / 0.92 GBP - 0.38 GBP
Milk Bottle (1L) 2.27 CAD / 1.33 GBP 2.68 NZD / 1.34 GBP + 0.01 GBP
Pint of Beer 6.00 CAD / 3.52 GBP 8.00 NZD / 3.99 GBP + 0.47 GBP
Bread (500g) 2.77 CAD / 1.62 GBP 2.21 NZD / 1.10 GBP - 0.52 GBP
Chicken Breasts (1kg) 13.10 CAD / 7.68 GBP 12.45 NZD / 6.22 GBP - 1.46 GBP
Petrol UK Gallon 5.64 CAD / 3.31 GBP 10.00 NZD / 4.99 GBP + 1.69 GBP
Volkswagen Golf or Equivalent 25,000.00 CAD / 14,656.26 GBP 34,990.00 NZD / 17,467.99 GBP + 2,811.73 GBP
Broadband Internet Monthly 73.69 CAD / 43.20 GBP 84.49 NZD / 42.18 GBP - 1.02 GBP
Rent One Bedroom Apt. In City (Monthly) 1,218.19 CAD / 714.16 GBP 1,478.20 NZD / 737.96 GBP + 23.80 GBP
Purchase One Bedroom Apt. In City 200,098.85 CAD / 117,308.01 GBP 235,337.90 NZD / 117,487.31 GBP + 179.30 GBP

Part of North America, Canada covers an area of 9,156,521 square kilometers.

Canada has a Gross Domestic Product (PPP) of 1,674.31 ($ Billion) from a population of 36,626,083.

Federal taxes are joined by provincial taxes in this progressive tax system - jointly ranging from 20.05% to 46.16% plus surcharges.

Federal taxes are as follow:

Below 47630 CAD - 15%

Between 47630 CAD and 95259 CAD - 20.5%.

Between 95259 CAD and 147667 CAD - 26%.

Between 147667 CAD and 210371 CAD - 29%.

Above 210371 CAD - 33%.

For Canada we are using the Ontario province for comparative purposes.

Ontario provincial taxes are as follow:

Below 43906 CAD - 5.05%

Between 43906 CAD and 87813 CAD - 9.15%.

Between 87813 CAD and 150000 CAD - 11.16%.

Between 150000 CAD and 220000 CAD - 12.16%.

Above 220000 CAD - 13.16%.

Ontario also has a surcharge where the provincial taxes exceed 4,740 CAD (20%) or 6,067 (56%).

Social security contributions are pension plan: 4.95% (Max 2,594 CAD) and employment insurance: 1.88% (Max 858 CAD).

15% of the total paid toward social security is returned as a tax credit against the federal tax bill.

A basic personal tax credit of 1,810 CAD is available as well as 15% of employment income (Capped to 183 CAD)

Source: http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

Source: XE.com (Currency Conversion).

Source: SalaryExplorer.com (Averages from average salaries in major job categories).

Source: Numbeo.com (Cost of living).

Part of Oceania, New Zealand covers an area of 263,135 square kilometers.

New Zealand has a Gross Domestic Product (PPP) of 174.85 ($ Billion) from a population of 4,604,871.

A progressive tax system spread over 4 bands - ranging from 10.5% to 33%.

Tax bands are as follow:

Below 14000 NZD - 10.5%

Between 14000 NZD and 48000 NZD - 17.5%.

Between 48000 NZD and 70000 NZD - 30%.

Above 70000 NZD - 33%.

Statutory accident insurance is payable at a rate of 1.39% of gross income - capped to 126,286 NZD of income.

There is a personal tax credit available for incomes between 24,000 NZD and 48,000 NZD of 520 NZD. This is reduced by 13 cents for each dollar over 44,000 NZD.

Source: http://www.ird.govt.nz/how-to/taxrates-codes/rates/itaxsalaryandwage-incometaxrates.html.

Source: XE.com (Currency Conversion).

Source: SalaryExplorer.com (Averages from average salaries in major job categories).

Source: Numbeo.com (Cost of living).

Help

This calculator allows you to calculate income taxes and social contributions equivalent for Canada and New Zealand and allow comparison between both. You can choose the preferred currency for the input amounts and displayed calculation. For example: If you choose GBP as your preferred currency, then the income entered will be converted to Canada's and New Zealand's native currencies for the calculation so that correct income equivalent is used. The results will then be shown in the native currencies and GBP.

How we compare world taxes

We have trawled through the quagmire of tax legislation for 16 of the World's major economies and created a comparable position as close to the UK's PAYE (Pay As You Earn) system for employed people.

We look at each country's taxation for employed people, as well as things like medical care which are part of social contributions for some countries or require mandatory purchase of health insurance.

Combining this information lets us calculate taxes for each of the 16 countries and then do not only a taxation comparison but also a comparison of buying power based upon commonly purchased items.

It is quick and easy to use and you can get a detailed result at the click/tap of a button!

Compare tax using these examples:

We currently support the following countries - by clicking on the links below you can just do an individual tax calculation for those countries - or scroll up and compare tax between two countries directly!

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