# NZ minimum hourly rate to increase to $13.50



## Song_Si (Jun 11, 2010)

*Minimum wage rises - by 50 cents*
08/02/2012

*The minimum wage will increase to $13.50 an hour, the Government has announced.*

The current rate is $13.

The training and new entrant minimum wage will increase from $10.40 to $10.80.

Minister of Labour Kate Wilkinson said the increase was about striking a balance between protecting workers and ensuring jobs were not lost.

"The Government is focused on growing the economy, creating jobs and boosting incomes for all New Zealanders."

It will amount to another $1000 a year for someone working fulltime on the minimum wage and comes into effect on April 1. 

more


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## Song_Si (Jun 11, 2010)

*a minimum wage worker*

rough calculations on above, for an adult individual with no dependents, working a standard 40 hour week

Gross income: $540.00 - $28080 per year

Using IRD *Tax on Annual Income Calculator*
Income up to $14000 taxed at 10.5% = $1,470.00 
Income over $14000 up to $48000 taxed at 17.5% = $2,464.00 
Total $28,080.00 = tax $3,934.00​
Less tax: $75.65 per week
*Nett weekly income: $464.35*

*****
_
corrections welcome!_


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