nz_pro_rata_salary_calculator
Scale a full-time New Zealand salary to part-time hours, gross and net.
Use for: 'what would $90,000 be for 3 days a week', 'pro rata salary for 25
hours', 'I am dropping to four days, what will I earn', 'is part time worth
it after tax'.
THE USEFUL PART IS THE TAKE-HOME, NOT THE GROSS. The gross scales with the
hours; the take-home does not, because dropping hours drops the salary out
of the higher brackets. Someone going from five days to three often keeps
more than 60% of their take-home, and that is what the decision turns on.
Lead with it.
The Independent Earner Tax Credit defaults on, because part-time earnings
are the band where it is worth the most. Turn it off for someone on a main
benefit, Working for Families or NZ Super.
Args:
full_time_salary: The advertised full-time annual salary.
full_time_hours: Hours a week full time is based on, usually 40.
your_hours: Hours a week actually worked.
kiwisaver_rate: A DECIMAL, 0.035 for 3.5%.
has_student_loan: Whether repayments are deducted.
claim_ietc: Whether the Independent Earner Tax Credit applies.
Returns:
The pro rata salary gross by year, month, fortnight and week, the
implied hourly rate, and the take-home after tax.
Input Schema
TableJSON Schema
| Name | Required | Description | Default |
|---|---|---|---|
| claim_ietc | No | ||
| your_hours | No | ||
| kiwisaver_rate | No | ||
| full_time_hours | No | ||
| full_time_salary | Yes | ||
| has_student_loan | No |