Parents face unanticipated tax bills amid rising living costs – RNZ 24 June 2024

Summarised by Centrist

Many New Zealand parents on paid parental leave are being hit with unexpected tax bills, some amounting to thousands of dollars. The issue stems from receiving holiday pay or grants on the wrong tax code, leading to significant financial burdens. Experts advise ensuring correct tax codes and possibly staggering income streams to avoid such hefty tax liabilities.

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