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September 27, 2013 04:53
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Excel formula for calculating NZ tax paid on annual income.
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| =IF(B2<=14000,SUM(B2*10.5%),IF(B2<=48000,SUM(B2-14000)*17.5%+1470,IF(B2<=70000,SUM(B2-48000)*30%+7420,IF(B2>=70001,SUM(B2-70000)*33%+14020)))) |
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Lambda function for FY25 blended rates:
=LAMBDA(x,SUMPRODUCT((x>{0,14000,15600,48000,53500,70000,78100,180000})*(x-{0,14000,15600,48000,53500,70000,78100,180000}),{0.105,0.0232,0.0468,0.0414,0.0836,0.0099,0.0201,0.06}))(A1)