New Zealand
Monthly Budget Template for New Zealand
Track your income in NZD, manage KiwiSaver contributions, ACC levies, and everyday expenses, all in a Google Sheets template you own.
In Depth
KiwiSaver at 3.5%, ACC Levies, and Interest-Free Student Loans
Budgeting in New Zealand starts with a pay slip that has already had several deductions applied. PAYE income tax across five brackets running from 10.5% to 39%, the ACC earners' levy of $1.52 per $100 of liable earnings before GST, KiwiSaver contributions, and student loan repayments where they apply are all taken out before the money reaches your bank account. The net pay figure on your statement is the real starting point for a budget.
KiwiSaver is built on a three-way contribution model. Employees choose a rate of 3.5%, 4%, 6%, 8%, or 10% of gross pay, employers contribute a minimum of 3.5% since 1 April 2026, and the government adds 25 cents per dollar up to $260.72 a year for members who contribute at least $1,042.86 and earn no more than $180,000. Both the employee and employer minimums are legislated to rise again to 4% on 1 April 2028. The employer share is easy to overlook on a pay slip even though it lands in the same account, and the difference between the available rates changes what arrives in the bank each fortnight.
New Zealand does not have a comprehensive capital gains tax, though the bright-line test applies to residential investment property sold within two years of purchase for sales on or after 1 July 2024. Student loans are interest-free for residents, with compulsory repayments at 12% of income above $24,128 for the 2026-27 tax year. Since no interest is charged, the arithmetic around early repayment differs from countries where student debt accrues interest, and some people put spare money toward other goals rather than paying down a zero-interest loan faster.
New Zealand
Budgeting in New Zealand: What's Different
New Zealand's financial system is relatively straightforward compared to some countries, but it has unique features worth understanding when setting up a budget.
PAYE makes income entry simple
New Zealand's PAYE (Pay As You Earn) system deducts income tax, ACC earners' levy, and KiwiSaver contributions from your pay before you receive it. Since the bracket changes that took effect on 1 April 2025, individual rates run 10.5% on the first $15,600, 17.5% to $53,500, 30% to $78,100, 33% to $180,000, and 39% above that [3]. Using your actual take-home pay as your budget income accounts for all these deductions automatically.
KiwiSaver contributions are a key part of the pay slip
KiwiSaver members choose a contribution rate of 3.5%, 4%, 6%, 8%, or 10% of gross pay, with employer contributions of at least 3.5% [1]. The 3% minimum rose to 3.5% on 1 April 2026 and is legislated to reach 4% on 1 April 2028, and a temporary reduction back to 3% can be applied for. Since 1 July 2025 the government contribution has been 25 cents per dollar contributed, capped at $260.72 a year for members contributing at least $1,042.86, and it is not paid to members earning more than $180,000. Some people adjust their rate as priorities shift between retirement saving and a first home.
No capital gains tax on most assets
New Zealand doesn't have a comprehensive capital gains tax. Profits from selling a family home, shares (if not a regular trader), and most investments are generally not taxed. This shapes financial planning differently from countries where investment gains are taxed on sale.
ACC levy covers accident costs
The Accident Compensation Corporation (ACC) levy is deducted from pay and covers people in New Zealand for personal injury from accidents, regardless of fault. That means accident-related treatment costs are largely handled outside the household budget. The earners' levy is $1.52 per $100 of liable earnings excluding GST for the current levy year, and it is already taken out before your net pay.
Student loan repayments reduce take-home pay above a threshold
New Zealand student loans are interest-free for residents, but compulsory repayments are deducted at 12% of income above the repayment threshold, which is $24,128 for the 2026-27 tax year [2]. For someone earning $60,000, that works out at roughly $360 a month before the money reaches their bank account. Since no interest is charged, some people direct spare money toward other goals rather than making voluntary repayments.
The bright-line test is the closest thing to a capital gains tax
While New Zealand has no general capital gains tax, the bright-line test taxes profits on residential property sold within a set holding period. For properties sold on or after 1 July 2024 that period is two years, down from ten. The family home is generally exempt. For property investors, the holding period affects the timing of buy and sell decisions.
Get the Template
Getting Started
Getting Started With Your New Zealand Budget
Switch the currency to NZD
Choose NZD from the currency dropdown at the top of the dashboard. The calculations are currency-neutral, so only the display symbol changes.
Enter your net pay
Use your actual take-home pay after PAYE, ACC, and KiwiSaver deductions. This is the amount that hits your bank account. If you have additional income (freelance, rental), add those as separate lines.
Set up NZ-specific expense categories
Add categories for: rent or mortgage, rates (council rates), utilities (power, water, internet), groceries, petrol or public transport, insurance (contents, car, health), and everyday spending. New Zealand-specific costs like power, which varies seasonally, and council rates deserve their own lines.
Track savings goals
If you're saving for a first home, the KiwiSaver first home withdrawal is one source of deposit funds, so a dedicated savings category can help show the total. For other goals like travel or an emergency fund, add separate lines to track progress.
Plan for seasonal variations
New Zealand winter (June to August) brings higher power bills. Car WOF and registration are annual costs. Back-to-school expenses hit in late January and February. Insurance renewals, rates instalments, and holiday spending create predictable seasonal patterns.
See It In Action
What the template looks like
Browse through the template to see the dashboard, the entry sheets, and the summaries it produces, all adaptable to your local financial setup.
- Built-in currency selector
- Calculations update automatically
- Visual summaries of your numbers
- No setup required
Dashboard with income, expenses, and savings at a glance
Log transactions with automatic categorization
Set targets per category and track actual spending
Visual breakdown of where your money goes
Track savings goals alongside your budget
Monitor progress toward financial goals
Fully customizable expense, income, and savings categories
Sources
Common Questions
Monthly Budget Template for New Zealand - FAQ
Does this template use New Zealand dollars?
Yes. Pick NZD from the currency option in the header. All calculations work the same regardless of which currency symbol you choose.
Can I track KiwiSaver contributions?
KiwiSaver contributions are deducted from your pay before you receive it, so they're already accounted for in your net pay. If you make voluntary additional contributions beyond your payroll deductions, add those as a budget category.
How do I budget for the KiwiSaver first home withdrawal?
If you're saving for a first home, you can track your KiwiSaver balance growth separately as a savings target. The first home withdrawal lets you take out most of your KiwiSaver balance after three years of membership, leaving $1,000 in the account. Worth knowing: the First Home Grant that used to add up to $10,000 on top closed to new applications on 22 May 2024, so KiwiSaver withdrawals and ordinary savings are what a deposit plan works with now.
Is there a Kiwi-specific version of this template?
The template is the same globally and is designed to be fully customizable. This page explains how to adapt it for New Zealand finances. Google Sheets' flexibility lets you rename categories and adjust the setup to match your specific situation.
How does this compare to NZ budgeting tools like Sorted?
Sorted.org.nz provides free budgeting tools and financial guidance specific to NZ. This template offers a downloadable, customizable Google Sheets alternative that you own and control. Some people use Sorted for guidance and this template for ongoing tracking.
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Download instantly and start managing your finances, or contact us to design a custom template package for your needs.
Tax rules, rates, and contribution limits change, and official publications can themselves lag behind the law in force. We review these figures on a best-effort basis against sources we consider authoritative, but we cannot guarantee they are current, complete, or that better sources do not exist, and nothing here is tax, legal, or financial advice. For decisions, the relevant government authority is the reference.