NZ - Payroll Tax Tables 2024/2025 - July Update

Modified on Mon, 20 Apr at 12:23 AM

The updated payroll tax tables effective from 31 July 2024 have been released for the 2025 financial year (31 July 2024 to 31 March 2025) and are available below. You can find a link to download the tax tables and instructions on how to apply them below.

This TaxRates.txt contains New Zealand FY25 (Updated) NZ IRD and Australian FY25 ATO Tax Rates.

Changes in the update

Items updated include:

Income Thresholds
Subtraction Amounts in Tax Calculations
Independent Earner Tax Credit (IETC) Thresholds
Employee Tax Code Descriptions for Secondary Incomes

Downloading the tax rates file

Download the tax rates file via the following link:

TaxRates.txt
Save the file to your preferred file directory.

Loading the tax rates

IMPORTANT

This step should only be performed once you have completed all pre 31 July pays for the FY25 payroll year. If the tax rates are applied before the last pay is completed, then the original FY 25 rates may apply incorrectly to 31 July and later pays within the 2025 financial year.

After downloading the tax rates file, the new rates can be loaded into Synergetic.

To load the tax rates into Synergetic:

Select Module > Payroll > Load Tax Rates.
The Load Payroll Tax Rates window is displayed.
Click .
Navigate to the file directory where you saved the TaxRates.txt file.
Select the file.
Click .
The file path is loaded into the Load from Directory field.
Check the file path is correct.
Click .
The Confirm window is displayed.
Confirm that the message mentions “31 July 2024 (FY 2025)”.
Click .
The tax rates will load and Synergetic will be updated with the new figures ready to use in your first FY 2025 pay.