With tax rates changing on 1 October, but the financial year running from April to March, how will IRD calculate how much tax should have been paid at the end of the year?
For instance if I earned $30,000 from Apr->Sep and $70,000 from Oct->Mar, I would get more in the hand than if those earnings were the other way around. (As tax will be lower in the latter half of the year.)
So in July of next year, when doing our tax return, will we need to know two values (mid-year/end-of-year)? And will we need to know these two values for all sources of income including interest?