Your income tax is calculated on your total income, which includes your regular pay and any overtime pay. If your overtime pay pushes your total income into a higher tax bracket, you may see a higher amount of tax being deducted from your payslip.
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Your income tax is calculated on your total income, which includes your regular pay and any overtime pay. If your overtime pay pushes your total income into a higher tax bracket, you may see a higher amount of tax being deducted from your payslip. It’s always a good idea to consult with a tax professional or your HR department if you have specific questions about your personal tax situation.
Hope this helps.
Regards, Clive Fernandes (Financial Adviser)
Director – National Capital
Disclosure: I am the director of National Capital, a KiwiSaver advice firm. The views expressed in this article are the views of the author. The information provided is of a general nature and is not intended to be personalised financial advice. You may seek appropriate financial advice from a Financial Adviser to suit your individual circumstances or contact National Capital.
