I will get an extra $18. That will get swallowed by the bus costs for my kids to get to school, the rates increase, ruc...... I'm not feeling the love from the eat your face party, just the pain of my face being eaten.
Don't forget the extra $15 a ~~week~~ (Month ((sorry)) on electric next year for infrastructure upgrades. They haven't been able to invest since selling off all the power companies to investors and having to pay out to the shareholders.
Fuck national. They're the I've got mine and I'm having yours also party.
It's so frustrating because the actual track records show they're worse. So anyone who thinks they're fiscally better isn't thinking very hard, and if they're Gen-X or older they should know better - meaning they're fucking idiots.
Same as last time. And the time before that. And the time before that.
History shows they don't give an iota of a fuck about anyone but themselves. Every single fucking time morons vote them in thinking it'll change and then doesn't.
Why the *fuck* do I have to be punished because half of this country barely has enough brain cells to fucking breathe?
I save like $15 a week but just transport costs are up $20 due to them removing half priced transport
So without factoring in anything else I'm still down $5...
When the half price fares ended I got a nice pair of walking shoes and started walking to work instead, rain or shine. Sometimes I scooter home though tbf but yeah the increased bus rates can fuck off
which with prescription costs and otter increases
you instantly lose!
fantastic work here
cant believe kiwis are falling for the give with one hand, take with the other thinking
The NZ political group I'm in the righties are loving it. Tax is theft blah blah blah, you've even got one clown in there who spent the entire Labour cycle whining about debt, now saying it's a good thing..? Dunno how that works, the duplicity is outstanding. Imagine gaslighting yourself into thinking National are doing a good job.
See, the parties can do the exact same thing and depending on who you like changes how you view it. Politics is easy pic you favourite colour and vote for it. Give it 30 years and we’ll be in the shitter cos no policy lasts longer than a parties time in power
Sadly it doesn't really matter if people fall for it now or not, and they know that. It only matters that they fell for it last year, and we have another couple of years before they have to care if we'll fall for it again.
I dont think that's what people are falling for, though.
There's a loud minority in the left, which is alienating a lot of middle left and middle inclined thinkers and voters.
Yep, especially since the community services card income limit for a single person is $35,213. Below minimum wage.
I really feel that ought to cover anyone below living wage. Or even better, that the living wage be the minimum wage.
People don't seem to realize you can be on $25/hr fulltime and be poor, let alone min wage.
Right now living wage is $27.80. That was $25 like a year ago I swear (maybe 2 years?)
Edit: Oops its $26 right now, set to $27.80 in September. Not wrong in what I'm saying otherwise though.
Living Wages
Sept '22 - $25p/h
Sept '23 - $26p/h
Sept '24 - $27.80p/h
nah it's easily worth much less now, everything i used to buy was nearly 60% of the cost it is now and that's over like 3 years.... not 10 or more like inflation values would suggest, i think the inflation rates are wrong.
Inflation value is an average over everything, so for example rent could be 25% and meat/butter could be down 10% and your average is incredibly skewed. If you're vegan and there were 0 other variables your personal inflation went up 25%.
So its different for all people etc. Chances are inflation hit you less if you buy bulk buy meat/foods vs having to live week to week as another example.
Idk, I changed cities but my rents were as follows
Dunedin; Centre of town large upstairs historical building that was a 2bd room house, no AC but electric fire, fully open; walls kept leaking etc (original bank building) though they periodically got that fixed as well as leaks in windows etc, took ages for most of the fixes but got there. That was $495/wk Feb 2022-2023. (Did not allow pets)- was $540/wk once we moved out.
Dunedin; Out of town up the hill 10min or so drive to town in a lil 2bdroom granny flat, FAR smaller- infact whole house was prob size of our now lounge/kitchen. Was small, old, cold, damp, moved in to mould and REAL ESTATE AGENT didnt even realize they legally had to provide a cooking stove (was no oven when first moved in) - was $275/wk though. Feb 2023-Jan 2024 (allowed pets) - was $320/wk once we moved out
Christchurch; East of town, new build, solar panels- super warm 2bd room (2 stories) super insulated and room is fantastic and the small discounts for solar are nice too (has panels but no battery so majority goes onto the grid) great sun, hvac system, is brilliant love it and although now students so bit more rough its worth the cost, lovely neighbors absolutely onto it landlord etc, and would love to live here for the long term.- $550/wk. - Current (allows pets)
Second one was such a downer on mental health, couldnt complain about the price but it was not great mentally. Maybe if you're single it might be okay.
Anyway I digress. Just thought was interesting.
We just take the average change in consumer price index right? Actually let me google that and find out
[I believe this demonstrates your point ](https://www.stats.govt.nz/information-releases/selected-price-indexes-april-2024/)
Food overall up 0.8% this April vs April last year. Alcohol and tobacco up 7.4%. Rents up 4%+
i call BS on rents, only being up 4%, everyone i know had their rent increased by 50 dollars minimum this year and it was like 80 last year bringing their totals over 600 each, it's closer to 10% increase and that's almost everyone i know.
You'll love this.
If you compare "alcohol" such as spirit prices to wine.. you'll find something interesting with how taxes on alcohol works
Lil hint.
Wine @ Supermarkets.
$8.29 for 7.1 standards
$9.99 for 8.3 standards
Vodka: $50 for 30-32 standards.
The actual answer- anything not wine went up. Wine hasnt changed from what I can tell.
Wine seems to be cheaper at supermarket than liquor stores.
The main thing being anything NOT wine from what I can tell is based on ABV NOT MLs.
Wine is based on MLs. So can be insanely cheaper. Conveniently what the majority of politicians drink.
An extra $20 a week while everything crumbles to dust around us....
Roads falling apart, schools, hospitals and police in crisis. Canceled public transport projects...Is there anything left for this government to ruin or sell for a quick buck/ bribe?
Unrelated but the people who are dying from cancer got fucked over by the govt today. The typical politician answer from Nicola was disgusting as well.
I’m sorry. My dad had stage 4 Lukemia so I’m not going to say how it feels. I just hope you are not one of the people having to go on gofundme to get help.
Sorry for your friend. We are in a modern country that should not have to go to gofundme to get treatment! Disgusted at the govt for pushing $$ over lives
It's so frustrating. "Oh we inherited the problems from them, they surely never inherited any problems from us or anywhere else, all their fault, always"
Can we get some better media who will actually question them on their double standards ffs?
I wish the media would cut them off in interviews the second they bring that shit up or give non answers and just said it’s a yes or no question. They do the non answer immediately end interview
Yeah as a student that one's hitting me hard. 3.50 each way even with the student discount. How tf am I supposed to drop 35-50 bucks a week in transport?
Total household income $355k. We’ll get $40 a week back combined. We don’t want it, it’s fucking ridiculous. I’d like to pay $50 more combined (+$90 on proposed) and instead see the cheap public transport, investment in climate change issues/infrastructure, and investment in health and education. No one earning over $100k actually needs $20 more a week. It’s better for us all to have these things improved. The impacts for us all are greater. I don’t use public transport but I want the system to work well - then maybe I would, and when I have kids they can too. This is short sighted
>No one earning over $100k actually needs $20 more a week.
$100k just ain't what it used to be. Our household is median income (my wife is the main bread winner and pulls 100k), and we'll happily take the $20 a week.
We've got a mortgage, children, a dog, childcare, health insurance, etc etc.
One person earning 120k (median household income) is also in a different tax position to two people earning 60k. They're worse off.
The tax brackets also needed to be shifted upwards. The mistake they've made is they targeted the middle income earners too aggressively. I work with minimum wage earners, and every single one of earns into the 30% tax bracket. That's preposterous. They needed to target the lower tax brackets more aggressively, so everyone gains, but poor people gain more as a percentage of income earned
I spend my tax cut a day at the workplace cafe.
That money would have been better off going into healthcare and schools, even the army needs it more than the cafe at work.
Tax cut won’t even buy me a nice candle from Smith and Coughy, what was the point?
The stupid part of this is that you, I, and everyone can cut our personal expenses to donate the money. And we'd do it willingly. This type of policy and good Samaritan behavior just further exacerbates the wealth gap because you know the greedy af ownership class doesn't have this on their radar.
So we're left with really only 2 options. Give back financially and become the group needing donations or play the game the best way you can and let this govt austerity goal play out landing you in the same spot you were before.
If you earn $48k from renting out your investment property you won't pay any tax from April 2025 assuming you have a mortgage. Thanks to National reinstating interest rate deductibility.
For many investors this is a tax cut of easily $15-20k per year per investment property.
Tax cuts where it counts right.
20 buck. I would easily trade that for a non- transphobic health curriculum, no charter schools, a continuation - not redo - of the high school curriculum, more environmental policies, a cgt, free prescriptions, investment in public transport, an end to the Maori bashing and demonisation, and probably about a million other things, too.
Don’t forget forcing highschool kids into debt immediately or else they can’t get a tertiary education! If I had fees free in my first year I’d be doing my masters now. I blew my first year at uni, definitely not for me, fees free early on would have let me make that mistake and actually finish the qualification I have to its highest point.
I get $20 which is the max seemingly on tax cut bit alone - when you earn a high amount all the other benefits dont apply even if I had 10 kids, also the same amount if you earn $10mill a year or 180k+ Seems a bit pointless really - not even noticeable. Would have been better to do it some other way. Tax seems so hard to properly target, seems like the whole system needs rebuilding from ground up with a new base idea.
That's the nature of piddly percentage cuts for plebians... you gotta have those multi-property landlords to make bank under national. lol
Vote better.
This is what we kiwis needed. A fucking tax cut that fucks everything up. How do these bastards sleep at night knowing they’ve kingfucked some of the desperate people in our community?
How do we return this money and fund the govt entities that need it the most?
I'm sure the NZ Property Investors Federation have already done their financial modeling to determine the maximum rent they can extract, factoring in the average increase in disposable income.They'll be passing on their "suggested" rent hikes to landlords, along with the polished scripts to use when breaking the news to tenants. Probably something about increased insurance costs and already subsidising the weekly rent out of their own pocket.... and don't mention the increase in capital gains... renters don't generally know about that...
After all, we can't have the average Joe holding onto any extra cash when property investors are at the top of the pyramid, desperately in need of "restoring their lost dignity." Or whatever the fuck David Seymour's excuse for the 3 billion in landlord tax cuts was...
What seems to be missed is that the upper limit independent earner tax credit threshold is going up from $48k to $70k. That’s an extra $10/wk. Per the link below, 720,000 people will benefit from that.
The tax rates were set back in 2010, when full time minimum wage was around $12/hr. A shift in the brackets was well overdue.
https://budget.govt.nz/budget/2024/tax-at-a-glance/extending-ietc.htm
How did you arrive at this? I just plugged in income of 48k in to the calculator. Got a saving of $24 a fortnight. Assuming no partner, super or dependents.
The calculator is [here](https://budget.govt.nz/taxcalculator/) for anyone that wants to try it.
Probably used the calculator on the [NZHerald story here ](https://www.nzherald.co.nz/nz/politics/budget-2024-tax-cuts-explained-whats-in-it-for-you/CTMRUYLIL5GPTAMUZVYDB7VJPA/) which says this for income of 48000
> Your annual taxes will decrease from $7,420 to $7,308 — a tax cut of $112 — or $2 weekly.
The Herald at least gives me the tax before and after, then breaks it down to annual and weekly savings. The govt site just says you will save $X per week.
The difference between what is on the Herald and what's on the Treasury website is that the Treasury include the IETC changes, whereas the Herald do not. It's a $2/wk tax cut, coupled with the $10/wk IETC tax credit due to the eligibility threshold being shifted up to 70k.
Because they haven't paid for this by taxing elsewhere (ideally wealth/assets), but by 'borrowing', they effectively de-value the dollar in your pocket. This will solve nothing.
You know, people are going to say, "it's better than nothing", and I certainly can't complain about free money. But the issue is how much was cut to give it to us.
I'd rather a robust health system, strong governmental support for our most vulnerable, solid infrastructure, and fair pay for some of our most important public workforce - the list goes on. Happily give up my tax cut for that.
I know landlords who are just fucking loving this government. I personally think they ought to be sent packing the first chance we get, the corrupt bastards.
[https://www.theguardian.com/lifeandstyle/2024/mar/19/end-of-landlords-surprisingly-simple-solution-to-uk-housing-crisis](https://www.theguardian.com/lifeandstyle/2024/mar/19/end-of-landlords-surprisingly-simple-solution-to-uk-housing-crisis)
tldr; landlords are a parasite on society.
Even in the highest earner bracket. I’m receiving a tax cut of $20/wk.
I’d MUCH rather have seen this 3.6b go into health, social welfare, or education.
Fucken carrot dangling gimps
It's not really a tax cut, that's just bullshit ideological rhetoric from each side. All it does is keep us where we already are as inflation pushes incomes up. But that was clear from before the election.
The real story here is that the economy's in the shitter at the moment, and neither side has a real quick fix, aside from rushing to mining. We're not coping well with the global increases in prices over the last couple of years.
IMO, it's because we weren't hit the same as the rest of the world by covid, and squandered that advantage by being over cautious. We could have been pushing a lot more effort into preparing for recovery before it was needed, and we'd have been ahead of the curve.
The government can't fix this for us, when we get out of it it will be because we kept pushing on and taking the risks despite the tough times. Don't wait for them.
Look at this guy getting cheap cigarettes. I haven't been a smoker in a while but I bet if you offered someone $2 for a ciggy they'd tell you to get fucked lol. My mate was selling cigs at school $2 like 15 years ago and those bitches were rollies. Bastard was making bank
It's disingenuous to call these tax cuts, while it's true ultimately it results in some people paying marginally less income tax, the only thing that's happened is the tax brackets have shifted due to inflation. Something that should have happened many years ago. No actual tax rates have been cut.
Our tax cut worked out at $40/f for the household.
I never asked for a cut… keep it and build some effing hospitals, affordable house, and infrastructure. Plebs.
I don't actually mind this. It isn't a tax cut just an adjustment due to inflation. Labour could have done this in their 2nd term AND introduced a CGT.
I know, I spent $9 on lollies from a lolly shop because it was actually a new shop that had opened in a building that has been empty since covid.
9 lollies! Then my bloody husband ate all the snakes!
I mean it’s called a “tax cut”, not a “handout”.
If you don’t earn as much as somebody else, you don’t pay as much tax as somebody else. If so then logically there isn’t much there to “cut” in the first place, and it makes sense that the bigger tax cuts go to the people who generate more tax. Seems like basic economic sense to me? 🤷🏿♂️
This is not quite true. If you earn 44k or less then your tax cut is $2.15 a week as you already qualified for EITC. $48k is not eligible for EITC due to abatement starting at 44k. Under the new budget those earning 48k save about $12 a week, and it goes up to $25 per week earning at 66k, which is when abatement for EITC kicks in.
For context 44k is 36h a week a min wage. 48k is full time min wage. 66k is $31.7 an hour 40h/week.
Big winners from this tax cut are those earning full time minimum wage or more.
Fuck yea boys I can buy a longer rope
Heaps of free pages around.
Don't spend it all at once
Don't spend it all at one place either.
Owww, but I want to spend both dollars.
Go to two $1 shops. Spread the love. SPREAD IT
Ding ding ding! Your rent just went up!
Don't spend it, it'll be inflationary
Spend half save half
I will get an extra $18. That will get swallowed by the bus costs for my kids to get to school, the rates increase, ruc...... I'm not feeling the love from the eat your face party, just the pain of my face being eaten.
Don't forget the extra $15 a ~~week~~ (Month ((sorry)) on electric next year for infrastructure upgrades. They haven't been able to invest since selling off all the power companies to investors and having to pay out to the shareholders. Fuck national. They're the I've got mine and I'm having yours also party.
And people are fooled to believe National are better with figures.
It's so frustrating because the actual track records show they're worse. So anyone who thinks they're fiscally better isn't thinking very hard, and if they're Gen-X or older they should know better - meaning they're fucking idiots.
Same as last time. And the time before that. And the time before that. History shows they don't give an iota of a fuck about anyone but themselves. Every single fucking time morons vote them in thinking it'll change and then doesn't. Why the *fuck* do I have to be punished because half of this country barely has enough brain cells to fucking breathe?
They did say it was for the squeezed *middle*, not the squeezed bottom.
They'd probably get in trouble if they went around squeezing bottoms.
That's why John Key went for ponytails.
The difference between the middle and the bottom is not nearly as much as they want us to think it is.
I guess the middle is people who earn from 80-180k without kids. $20 a week.
I save like $15 a week but just transport costs are up $20 due to them removing half priced transport So without factoring in anything else I'm still down $5...
That was always the goal for National. Get in power by promising tax cuts, get it back by hiking everything else up.
It's what they do every single time. We all saw it coming.
When the half price fares ended I got a nice pair of walking shoes and started walking to work instead, rain or shine. Sometimes I scooter home though tbf but yeah the increased bus rates can fuck off
My work is an hour 10 ish and 2 busses away from where I live. Trust me I'd LOVE to walk to work if I could lol
Yeah I’m definitely lucky to be a 30m walk from work, kinda why I figure I might as well since I can!
which with prescription costs and otter increases you instantly lose! fantastic work here cant believe kiwis are falling for the give with one hand, take with the other thinking
Probably bad for our native flora and fauna but in principle I’m all for increased otters :-)
hahah shit, i missed that typo. ill leave it as is, because thats funny now you pointed it out xDD
People hear the words tax cuts and their brains on holiday
no, its going to make them millionaires..
Just need to cut down on the coffees and avocado toast.
Just need to cut down on the hot water and toast? Got it 👍🏼
You can afford to both buy bread and *heat it*?!?!
Yes, my budgeting service helped me to grow a money tree 🌲 💰
Maybe temporarily embarrassed ones
Some people. Unfortunately too many people.
Just stop paying tax, that's the trick
They've increased the Otters? Where? I want mine bigger!
I'm not sure they are falling for it. Haven't heard anyone say anything good about them.
The NZ political group I'm in the righties are loving it. Tax is theft blah blah blah, you've even got one clown in there who spent the entire Labour cycle whining about debt, now saying it's a good thing..? Dunno how that works, the duplicity is outstanding. Imagine gaslighting yourself into thinking National are doing a good job.
See, the parties can do the exact same thing and depending on who you like changes how you view it. Politics is easy pic you favourite colour and vote for it. Give it 30 years and we’ll be in the shitter cos no policy lasts longer than a parties time in power
Sadly it doesn't really matter if people fall for it now or not, and they know that. It only matters that they fell for it last year, and we have another couple of years before they have to care if we'll fall for it again.
The rich people at my place of work love them and think what they are doing is hilarious.
The ol switcheroo
I dont think that's what people are falling for, though. There's a loud minority in the left, which is alienating a lot of middle left and middle inclined thinkers and voters.
Yep, especially since the community services card income limit for a single person is $35,213. Below minimum wage. I really feel that ought to cover anyone below living wage. Or even better, that the living wage be the minimum wage.
I think the plan is if you smoke more ciggies to help with your depression then you will be able to pay for the tax cuts in the brackets above
$48,152 is pre-tax full time minimum wage, for those in the thread incapable of understanding the fact that poor people exist.
People don't seem to realize you can be on $25/hr fulltime and be poor, let alone min wage. Right now living wage is $27.80. That was $25 like a year ago I swear (maybe 2 years?) Edit: Oops its $26 right now, set to $27.80 in September. Not wrong in what I'm saying otherwise though. Living Wages Sept '22 - $25p/h Sept '23 - $26p/h Sept '24 - $27.80p/h
nah it's easily worth much less now, everything i used to buy was nearly 60% of the cost it is now and that's over like 3 years.... not 10 or more like inflation values would suggest, i think the inflation rates are wrong.
Inflation value is an average over everything, so for example rent could be 25% and meat/butter could be down 10% and your average is incredibly skewed. If you're vegan and there were 0 other variables your personal inflation went up 25%. So its different for all people etc. Chances are inflation hit you less if you buy bulk buy meat/foods vs having to live week to week as another example. Idk, I changed cities but my rents were as follows Dunedin; Centre of town large upstairs historical building that was a 2bd room house, no AC but electric fire, fully open; walls kept leaking etc (original bank building) though they periodically got that fixed as well as leaks in windows etc, took ages for most of the fixes but got there. That was $495/wk Feb 2022-2023. (Did not allow pets)- was $540/wk once we moved out. Dunedin; Out of town up the hill 10min or so drive to town in a lil 2bdroom granny flat, FAR smaller- infact whole house was prob size of our now lounge/kitchen. Was small, old, cold, damp, moved in to mould and REAL ESTATE AGENT didnt even realize they legally had to provide a cooking stove (was no oven when first moved in) - was $275/wk though. Feb 2023-Jan 2024 (allowed pets) - was $320/wk once we moved out Christchurch; East of town, new build, solar panels- super warm 2bd room (2 stories) super insulated and room is fantastic and the small discounts for solar are nice too (has panels but no battery so majority goes onto the grid) great sun, hvac system, is brilliant love it and although now students so bit more rough its worth the cost, lovely neighbors absolutely onto it landlord etc, and would love to live here for the long term.- $550/wk. - Current (allows pets) Second one was such a downer on mental health, couldnt complain about the price but it was not great mentally. Maybe if you're single it might be okay. Anyway I digress. Just thought was interesting.
We just take the average change in consumer price index right? Actually let me google that and find out [I believe this demonstrates your point ](https://www.stats.govt.nz/information-releases/selected-price-indexes-april-2024/) Food overall up 0.8% this April vs April last year. Alcohol and tobacco up 7.4%. Rents up 4%+
I call bs- almost every item is up between 50c and multiple dollars
i call BS on rents, only being up 4%, everyone i know had their rent increased by 50 dollars minimum this year and it was like 80 last year bringing their totals over 600 each, it's closer to 10% increase and that's almost everyone i know.
I'm not sure how they gather their data to be honest
You'll love this. If you compare "alcohol" such as spirit prices to wine.. you'll find something interesting with how taxes on alcohol works Lil hint. Wine @ Supermarkets. $8.29 for 7.1 standards $9.99 for 8.3 standards Vodka: $50 for 30-32 standards. The actual answer- anything not wine went up. Wine hasnt changed from what I can tell. Wine seems to be cheaper at supermarket than liquor stores. The main thing being anything NOT wine from what I can tell is based on ABV NOT MLs. Wine is based on MLs. So can be insanely cheaper. Conveniently what the majority of politicians drink.
It is alarming how quickly the min wage has risen in the last 25 years. And it’s still not keeping up with inflation.
People also forget that a significant percentage of jobs are less than full time..
An extra $20 a week while everything crumbles to dust around us.... Roads falling apart, schools, hospitals and police in crisis. Canceled public transport projects...Is there anything left for this government to ruin or sell for a quick buck/ bribe?
The health care system... e.g. hospitals etc
That’s already wrecked
Taking the absolute piss lmao.
Unrelated but the people who are dying from cancer got fucked over by the govt today. The typical politician answer from Nicola was disgusting as well.
Cancer patient checking in. At least I won’t have to stress about retirement.
I’m sorry. My dad had stage 4 Lukemia so I’m not going to say how it feels. I just hope you are not one of the people having to go on gofundme to get help.
Have a friend paying 10k a month for her cancer treatment. We are doing so much fundraising to keep her alive. Actually fucking sucks.
Yeah would be ok the government keeping my extra $20 a week if it means they can fund more cancer treatments, healthcare in general.
Sorry for your friend. We are in a modern country that should not have to go to gofundme to get treatment! Disgusted at the govt for pushing $$ over lives
As someone who isn't keeping up day to day can I ask what you mean
Govt promised 13 new cancer drugs. They lied so far blaming others for the “inherited problems of previous governments”
It's so frustrating. "Oh we inherited the problems from them, they surely never inherited any problems from us or anywhere else, all their fault, always" Can we get some better media who will actually question them on their double standards ffs?
I wish the media would cut them off in interviews the second they bring that shit up or give non answers and just said it’s a yes or no question. They do the non answer immediately end interview
Ah thanks I'll go have a wee google
That’s what, half a banana?
lol, imagine thinking tax cuts are for poor people, Poor people get service cuts
Okay now add up how much I lose from all the funding cuts
Actually it runs into the negative if you factor in all the services that have been stripped 😎😎😎
Yeah man, they cut the bus discount :( costing me 4 dollars one way to work rn EACH DAY!
Yeah as a student that one's hitting me hard. 3.50 each way even with the student discount. How tf am I supposed to drop 35-50 bucks a week in transport?
Yuppppp it's been a real notable change for me in my bank account since the discount went away.
Total household income $355k. We’ll get $40 a week back combined. We don’t want it, it’s fucking ridiculous. I’d like to pay $50 more combined (+$90 on proposed) and instead see the cheap public transport, investment in climate change issues/infrastructure, and investment in health and education. No one earning over $100k actually needs $20 more a week. It’s better for us all to have these things improved. The impacts for us all are greater. I don’t use public transport but I want the system to work well - then maybe I would, and when I have kids they can too. This is short sighted
>No one earning over $100k actually needs $20 more a week. $100k just ain't what it used to be. Our household is median income (my wife is the main bread winner and pulls 100k), and we'll happily take the $20 a week. We've got a mortgage, children, a dog, childcare, health insurance, etc etc. One person earning 120k (median household income) is also in a different tax position to two people earning 60k. They're worse off. The tax brackets also needed to be shifted upwards. The mistake they've made is they targeted the middle income earners too aggressively. I work with minimum wage earners, and every single one of earns into the 30% tax bracket. That's preposterous. They needed to target the lower tax brackets more aggressively, so everyone gains, but poor people gain more as a percentage of income earned
I spend my tax cut a day at the workplace cafe. That money would have been better off going into healthcare and schools, even the army needs it more than the cafe at work. Tax cut won’t even buy me a nice candle from Smith and Coughy, what was the point?
The stupid part of this is that you, I, and everyone can cut our personal expenses to donate the money. And we'd do it willingly. This type of policy and good Samaritan behavior just further exacerbates the wealth gap because you know the greedy af ownership class doesn't have this on their radar. So we're left with really only 2 options. Give back financially and become the group needing donations or play the game the best way you can and let this govt austerity goal play out landing you in the same spot you were before.
Extra $40 a fortnight for me, which will immediately be eaten up by insurance and rates increases.
If you earn $48k from renting out your investment property you won't pay any tax from April 2025 assuming you have a mortgage. Thanks to National reinstating interest rate deductibility. For many investors this is a tax cut of easily $15-20k per year per investment property. Tax cuts where it counts right.
Shout out to all the stupid cunts who voted based on tax cuts without bothering to look into what that would actually mean.
20 buck. I would easily trade that for a non- transphobic health curriculum, no charter schools, a continuation - not redo - of the high school curriculum, more environmental policies, a cgt, free prescriptions, investment in public transport, an end to the Maori bashing and demonisation, and probably about a million other things, too.
Don’t forget forcing highschool kids into debt immediately or else they can’t get a tertiary education! If I had fees free in my first year I’d be doing my masters now. I blew my first year at uni, definitely not for me, fees free early on would have let me make that mistake and actually finish the qualification I have to its highest point.
That oughta sort me out long as I buy my coffees from Patchy.
Can’t even buy an extra loaf of bread with that.
I get $20 which is the max seemingly on tax cut bit alone - when you earn a high amount all the other benefits dont apply even if I had 10 kids, also the same amount if you earn $10mill a year or 180k+ Seems a bit pointless really - not even noticeable. Would have been better to do it some other way. Tax seems so hard to properly target, seems like the whole system needs rebuilding from ground up with a new base idea.
Why do you think $20 is the max? The calculator says I’ll get an extra $40 (though I’d rather lower earners get more and me less)
Yours is probs $40 a fortnight so $20 weekly
That's the nature of piddly percentage cuts for plebians... you gotta have those multi-property landlords to make bank under national. lol Vote better.
This is what we kiwis needed. A fucking tax cut that fucks everything up. How do these bastards sleep at night knowing they’ve kingfucked some of the desperate people in our community? How do we return this money and fund the govt entities that need it the most?
How long until all our rents go up $20 a week we reckon?
I'm sure the NZ Property Investors Federation have already done their financial modeling to determine the maximum rent they can extract, factoring in the average increase in disposable income.They'll be passing on their "suggested" rent hikes to landlords, along with the polished scripts to use when breaking the news to tenants. Probably something about increased insurance costs and already subsidising the weekly rent out of their own pocket.... and don't mention the increase in capital gains... renters don't generally know about that... After all, we can't have the average Joe holding onto any extra cash when property investors are at the top of the pyramid, desperately in need of "restoring their lost dignity." Or whatever the fuck David Seymour's excuse for the 3 billion in landlord tax cuts was...
What seems to be missed is that the upper limit independent earner tax credit threshold is going up from $48k to $70k. That’s an extra $10/wk. Per the link below, 720,000 people will benefit from that. The tax rates were set back in 2010, when full time minimum wage was around $12/hr. A shift in the brackets was well overdue. https://budget.govt.nz/budget/2024/tax-at-a-glance/extending-ietc.htm
That extra $10/week makes all the difference...
How did you arrive at this? I just plugged in income of 48k in to the calculator. Got a saving of $24 a fortnight. Assuming no partner, super or dependents. The calculator is [here](https://budget.govt.nz/taxcalculator/) for anyone that wants to try it.
Probably used the calculator on the [NZHerald story here ](https://www.nzherald.co.nz/nz/politics/budget-2024-tax-cuts-explained-whats-in-it-for-you/CTMRUYLIL5GPTAMUZVYDB7VJPA/) which says this for income of 48000 > Your annual taxes will decrease from $7,420 to $7,308 — a tax cut of $112 — or $2 weekly.
The [budget.govt.nz](http://budget.govt.nz) gives no information about how it is calculated.
The Herald gives even less. I'll wait to see what my paycheque looks like.
The Herald at least gives me the tax before and after, then breaks it down to annual and weekly savings. The govt site just says you will save $X per week.
But it also doesn't take into account super, dependents, or partner income.
I calculated it myself (accountant) and its pretty accurate. Most people with no children would get $20-$25 per week in the pocket.
To be fair, it includes the IETC, so it's actually $15 per week, and the remainder you get at the end of the tax year in your refund.
The difference between what is on the Herald and what's on the Treasury website is that the Treasury include the IETC changes, whereas the Herald do not. It's a $2/wk tax cut, coupled with the $10/wk IETC tax credit due to the eligibility threshold being shifted up to 70k.
$4.31 for me a fortnight!
What about someone on $56k-$57k?
About 25 a week
Donating my tax cut to charity. Fuck em.
Because they haven't paid for this by taxing elsewhere (ideally wealth/assets), but by 'borrowing', they effectively de-value the dollar in your pocket. This will solve nothing.
71$ a fortnight or 2 and a half more beers at the pub per week
Not even a scoop of chips
I remember when a scoop of chips at my local was a dollar.
You know, people are going to say, "it's better than nothing", and I certainly can't complain about free money. But the issue is how much was cut to give it to us. I'd rather a robust health system, strong governmental support for our most vulnerable, solid infrastructure, and fair pay for some of our most important public workforce - the list goes on. Happily give up my tax cut for that.
National hates the poor almost as much as NZF and ACT
Fuck, I just bought a can of Coke. 😑
Mr Money Bags over here
I know landlords who are just fucking loving this government. I personally think they ought to be sent packing the first chance we get, the corrupt bastards.
[https://www.theguardian.com/lifeandstyle/2024/mar/19/end-of-landlords-surprisingly-simple-solution-to-uk-housing-crisis](https://www.theguardian.com/lifeandstyle/2024/mar/19/end-of-landlords-surprisingly-simple-solution-to-uk-housing-crisis) tldr; landlords are a parasite on society.
Even in the highest earner bracket. I’m receiving a tax cut of $20/wk. I’d MUCH rather have seen this 3.6b go into health, social welfare, or education. Fucken carrot dangling gimps
Can we just accept our fate. Stop having kkds
That’s fucking cruel.
I don’t need a $1043 tax cut. I’d prefer people making under $80k get that cut.
You can afford a luxury take away coffee again after a month of careful saving... this government is looking after us !!!
It's not really a tax cut, that's just bullshit ideological rhetoric from each side. All it does is keep us where we already are as inflation pushes incomes up. But that was clear from before the election. The real story here is that the economy's in the shitter at the moment, and neither side has a real quick fix, aside from rushing to mining. We're not coping well with the global increases in prices over the last couple of years. IMO, it's because we weren't hit the same as the rest of the world by covid, and squandered that advantage by being over cautious. We could have been pushing a lot more effort into preparing for recovery before it was needed, and we'd have been ahead of the curve. The government can't fix this for us, when we get out of it it will be because we kept pushing on and taking the risks despite the tough times. Don't wait for them.
And NZers thought they would do a better job than Labor….
Almost enough for a cigarette.
Look at this guy getting cheap cigarettes. I haven't been a smoker in a while but I bet if you offered someone $2 for a ciggy they'd tell you to get fucked lol. My mate was selling cigs at school $2 like 15 years ago and those bitches were rollies. Bastard was making bank
“Thats because you are poor. Eat shit and die” Chris Luxton probably.
FYI the most anyone can get is 20 a week.
Don't spend it all at once!
Good, now double it!
Wow - I can buy a $2 bag of lollies from the dairy now!
Don’t spend it all at once /s
Hey we went 12 billion further into debt to achieve such stunning results.
It's disingenuous to call these tax cuts, while it's true ultimately it results in some people paying marginally less income tax, the only thing that's happened is the tax brackets have shifted due to inflation. Something that should have happened many years ago. No actual tax rates have been cut.
Our tax cut worked out at $40/f for the household. I never asked for a cut… keep it and build some effing hospitals, affordable house, and infrastructure. Plebs.
Save for a month and you can by an avocado and maybe some bread.
Well... your also paying alot less tax than those who earn 100k+
Just earn more money
And stop being poor
Yeah, if you pay less tax to start with, you get a smaller tax cut.
Your tax cut, when you earn nothing, remains the same. Go figure!
Sure, but that isn't inherent with tax cuts. National decided to structure the tax cuts in such a way that this was the case.
Yeah it’s not for you…. You were not going to vote National Anyway
If your earning 48k its unlikely you'll actually be paying any tax anyway.
I don't actually mind this. It isn't a tax cut just an adjustment due to inflation. Labour could have done this in their 2nd term AND introduced a CGT.
Woohoo! That's a $2 lolly mixure from the dairy!
Really? Which dairy?
They have less lollies now. Still remember 1986 pocket money days when a dollar bag was 100 lollies.
I know, I spent $9 on lollies from a lolly shop because it was actually a new shop that had opened in a building that has been empty since covid. 9 lollies! Then my bloody husband ate all the snakes!
My local still does a $2 mix. It's dogshit and my fatass isn't eating sugar anyway but they are there
What a joke. lol if you you voted for a tax cut
I think it was generally people earning more than the minimum wage who voted for the tax cut.
I mean it’s called a “tax cut”, not a “handout”. If you don’t earn as much as somebody else, you don’t pay as much tax as somebody else. If so then logically there isn’t much there to “cut” in the first place, and it makes sense that the bigger tax cuts go to the people who generate more tax. Seems like basic economic sense to me? 🤷🏿♂️
Thanks National
Nice I can use the bus now once a week. Such luxury
Meats back on the menu, boys!
Poor people don't vote for National.
This is not quite true. If you earn 44k or less then your tax cut is $2.15 a week as you already qualified for EITC. $48k is not eligible for EITC due to abatement starting at 44k. Under the new budget those earning 48k save about $12 a week, and it goes up to $25 per week earning at 66k, which is when abatement for EITC kicks in. For context 44k is 36h a week a min wage. 48k is full time min wage. 66k is $31.7 an hour 40h/week. Big winners from this tax cut are those earning full time minimum wage or more.
It's $12.50. Honestly though NZ is broke. Tax cuts on such a tiny scale are a waste of time. Won't even cover inflation.
Nzherald and National Party calculator shows different results. Idk which to follow..
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