How much tax refund do New Zealanders get on average?

The amount of your New Zealand tax refund, if any, will be determined by your personal circumstances, and many people are pleasantly surprised by the amount of refund they receive. There is no way to calculate how much an average tax refund would be, as it varies so much between individuals. Some tax agents claim the average refund they claim for their clients is around $500 – a pleasant surprise at the end of the year! Your agent will take their fee out of this, which is generally a percentage of the refund, however if there is no refund there is usually no fee either. A good agent will usually get more refund for you as they know all the things that can be claimed against your tax. In New Zealand, tax is usually paid by your employer at the correct rate and there will be nothing to do at the end of the year. In some cases however, the amount paid may not be exact and there may be a refund owing to you, or an amount of tax still to pay to IRD. You should be sure that you are owed a refund before requesting your personal tax summary from the Inland Revenue Department (IRD), as if this is generated and there is an amount owing, you will have to pay this. In general, if you are on a lower income, receiving a benefit, or worked only part of the year you should get some refund, which may be a few hundred dollars. You can speak to a tax agent like MyRefund at no cost to find out whether you are entitled to a refund, and in most cases they will be able to give you an idea of how much you might in a couple of minutes. You will only pay the agent if you receive a refund. You can also talk to IRD or an accountant about any tax concerns you have. The taxes you pay help the whole community to run effectively, and everyone benefits by paying the right amount.


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