Income Tax Calculator

							                                   Income Tax Calculator
                                                      Permanent            Company                Self
                                                      Employee                                  Employed
                                                       (PAYE)
Gross Income                                                 65238               65238                65238

Expected Expenses                                                   0            15000                15000

Net Income                                                   65238               50238                50238

Tax                 Rate    Band
                     19.50%   0-38000                        7410                                     7410
                      33%   38001-60000                      7260            16578.54               4038.54
                      39%     60001-                       2042.82                                        0

                                             Tax:        16712.82            16578.54             11448.54

% of Gross Income:                                              26%                25%                     18%
% of Net Income:                                                26%                33%                     23%

Note: there are other factors to consider - e.g. contractors get a premium on their rate, ACC costs, etc