Australia v New Zealand: Income part 3

As promised on the income tax rates for Australia in financial year 2008 / 2009 (i.e. after the 2008 tax cuts) my after tax income in Australia will be AU$60,300 and less the extra medicare levy and NZ student loan repayments (AU$800 for medicare and AU$2,562 for student loan (using the same value as used last time)), I will have AU$56,938 after tax and AU$49,738 after taking out 9% super.

This means after the tax cuts this year I will be another AU$600 better off a year.

This compares Australia to NZ:

• After tax: AU$56,938 to NZ$43,698
• After Australian super / no kiwisaver: AU$49,738 (AU$7200 savings) to NZ$43,698 (NZ$0 savings)
• After Australian super / 4% kiwisaver: AU$49,738 (AU$7200 savings) to NZ$41,098.40 (NZ$5,332.86 savings including kickstart, employer contribution etc)