Kiwi tax refunds up 23 percent - study

  • 24/05/2016
(File)
(File)

Tax refunds for the average New Zealander have increased by nearly a quarter in the last three financial years, according to research conducted by MyTax.

The study -- which looked at more than 300,000 tax returns -- shows that a tax refund of $521 was the average for the Kiwi taxpayer.

And those earning under $10,000 have seen their tax refunds shoot up by 73 percent to take $421 on average.

MyTax chief executive Lester Binns says you are more likely to be owed money by the Inland Revenue Department (IRD) if you've had numerous employers.

"Workers who have had just one employer for the year have about a 50/50 chance of being due a refund," he said.

"Those with two employers are 1.8 times more likely to get money back and for those with three employers, 2.1 times more likely."

Mr Binns said the research suggested those who have substituted annual leave for wages, changed job, seen their wages increase or filed incorrect tax codes are most likely to be owed a refund.

Newshub.

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