This is a powerful calculator, designed specifically for New Zealand conditions.
Use it to compare your after-tax return from two different investment choices.
Start with the left-hand option. Choose the type of investment from the "Investment Type" drop-down box, and then set the other criteria. Then, compare another option in the right-hand option. They both work in exactly the same way. You can even compare tax-free investments - just choose "0" in the "Tax Rate" box.
The latest interest rates are listed in the main menu, under the "Saving" tab.
Use the "View Transactions" tool to see exactly how we calculated the answers. Choosing the starting date can affect how returns work out, so this feature allows you to control its effect.
Although this calculator covers a comprehensive range of criteria, you should only use it to provide an estimate of returns. Financial institutions may (or may not) use different criteria in working out how interest is credited and paid. Only they can provide you with authorative projections.
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Tax rates changed on October 1, 2010. At that time, tax on income to $14,000 per year decreased from 12.5% to 10.5%, tax on income to $48,000 per year decreased from 21% to 17.5%, tax on income to $70,000 per year decreased from 33% to 30%, and tax on income over $70,000 decreased from 38% to 33%.
There were PIR rate decreases as well, affecting how you view equivalent rates for PIE investments. The top PIR rate of 30% was reduced to 28% on October 1, 2010. For more on PIR rates, see here.