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How do I change the tax rate on my account?

Changing your Tax Rate

As an independent contractor on Mycare, you are self-employed and therefore responsible for your own income taxes each year.

To assist your end of year tax obligations, Mycare withholds a portion of your earnings as tax, and pays this to the IRD on your behalf.  As a default this is 10%, however you may choose to withhold more tax than this to ensure you do not have a large tax bill at year end.

The IRD publishes details of individual tax rates here - anyone earning. more than $15,600 per year will have more than 10% tax to pay each year.

Increasing the tax rate withheld by Mycare

Go to your Profile (left hand menu) and the Payments Tab - and at the bottom choose the drop down menu of 'Withholding tax rate'.

 

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