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Self-employed Kiwis Are Selling Themselves Short On Tax


Tuesday, 16 March 2021, 12:24 pm
 Analysis of user data by accountancy and tax app Hnry has revealed that less than
a quarter of one percent of self-employed Kiwis need to set
aside a third of their income for tax, yet thousands are
still being advised to do so.
For years, people
earning independently - whether self-employed, sole-traders,
freelancers or contractors - have been advised by
accountants and tax agents to hold back 33 percent of their
income to cover income tax, even though having an overall
tax rate of that amount is extremely unlikely. In fact, if
you earned a whopping $10 million per year, your income tax ....

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