Docile 64 Report post Posted May 20, 2010 (edited) Comparison of old and new income tax rates Income Current rates New rates $0 - $14,000: 12.5% -> 10.5% $14,001 - $48,000: 21.0% -> 17.5% $48,001 - $70,000: 33.0% -> 30.0% Over $70,000: 38.0% -> 33.0% GST: 12.5% -> 15% Edited May 20, 2010 by Docile Quote Share this post Link to post Share on other sites
pureboiracer 0 Report post Posted May 20, 2010 I think this budget is a good effort, government have managed to to cut alot of taxes in the right places without having to cut funding to vital things and without causing too much hardship. Bill English has earnt his moneys worth here imo. Quote Share this post Link to post Share on other sites
Docile 64 Report post Posted May 20, 2010 additional 1,400 / yr for me... about extra $2 GST on my weekly grocery.. extra $104 yearly gas, about 80 weekly... extra $104 yearly then various bills. but still plenty of left over from increased in take how income. Quote Share this post Link to post Share on other sites
_ethrty-Andy_ 2132 Report post Posted May 20, 2010 Same here. Im happy with the changes in taxes. Both promotes saving, and overal the vast majority of people are better off. Quote Share this post Link to post Share on other sites
antil33t 90 Report post Posted May 20, 2010 I like how it's not going to work in the favour of people on the dole. extra GST = more money spent, since they don't get taxed really they don't really benefit from the savings. Quote Share this post Link to post Share on other sites
pureboiracer 0 Report post Posted May 20, 2010 ^gives them an incentive to get off the dole then eh? Quote Share this post Link to post Share on other sites
[email protected] 0 Report post Posted May 20, 2010 Meaningless in my opinion. Quote Share this post Link to post Share on other sites
_ethrty-Andy_ 2132 Report post Posted May 20, 2010 I like how it's not going to work in the favour of people on the dole. extra GST = more money spent, since they don't get taxed really they don't really benefit from the savings. didnt think of it like that! but National has always worked for people that work, rather than dishing handouts left right and center Quote Share this post Link to post Share on other sites
pureboiracer 0 Report post Posted May 20, 2010 National has always worked for people that work, rather than dishing handouts left right and center Good on them. Quote Share this post Link to post Share on other sites
_ethrty-Andy_ 2132 Report post Posted May 20, 2010 that said though, my family would be in millions of dollars worth of debt (if we could even source that much capital) if it wasnt due to handouts though, my brothers liver transplant operation aparently cost just shy of $1m, and the meds hes on for the rest of his life cost upwards of $800 a week... At least National arent completely nuts like the americans and expect people to pay for every single thing. I cant even imagine what life would be like if we lived there Just realised i went off topic a bit there ha Quote Share this post Link to post Share on other sites
bmpower 3 Report post Posted May 20, 2010 Still a case of the rich getting richer - surprise surprise the biggest drop is the over $70,000 bracket getting a 5% drop, when the $14,000 and under get a 2.5% drop. With GST factored in if you earn under 14k nothing changes, if you earn up to 48k your 1% better off, if you earn up to 70k your 0.5% better off and if you earn 70k and up your 2.5% better off. See a common trend there..... Quote Share this post Link to post Share on other sites
pureboiracer 0 Report post Posted May 20, 2010 well then if you want to be in the biggest drop category then start selling more cars eh... Quote Share this post Link to post Share on other sites
bmpower 3 Report post Posted May 20, 2010 well then if you want to be in the biggest drop category then start selling more cars eh... Who said i wasn't in that category? The cuts are to my benefit. I am just making a simple observation that its just the same old story, rich get richer, poor stay the same or get poorer. Its not helping the people it needs to. Quote Share this post Link to post Share on other sites
e30ftw 410 Report post Posted May 20, 2010 DUMB Quote Share this post Link to post Share on other sites
antil33t 90 Report post Posted May 20, 2010 (edited) ^gives them an incentive to get off the dole then eh? I certianly hope so. I'm not saying benefits are bad in any way, I'm on an IB. But I have some family members that are MORE THAN CAPIBLE of working, but just sit on the dole all day and get pissed all the time. Now that GST is going up, booze and smokes are getting more expensive, and the dole probably won't go up all that much, they might just reconsider their lifestyle eh? Though, sort of screws over all beneficaries, even if they are on them for a legitimate purpose. upwards of $800 a week... Mine cost $7,000 a week on average >.< Sorry taxpayers. Edited May 20, 2010 by antil33t Quote Share this post Link to post Share on other sites
Jeddy 0 Report post Posted May 20, 2010 My disappointment comes at the 10.4b deficit. Other than that kudos Quote Share this post Link to post Share on other sites
Forrest 35 Report post Posted May 20, 2010 (edited) well then if you want to be in the biggest drop category then start selling more cars eh... Sorry Oli but this is the dumbest post ever. +1 on deficit Edited May 20, 2010 by Hellpina Quote Share this post Link to post Share on other sites
westy 614 Report post Posted May 20, 2010 Woo Hoo. That is all Quote Share this post Link to post Share on other sites
Guest Simon* Report post Posted May 20, 2010 Why should the people in the top tax bracket pay for all the beneficiaries, bludgers and underachievers? If you have earnings over $70K f**king good for you! I bet you didn't just walk into that job straight after school - you probably earned it through long hours, hard work and sacrifice. Why the f**k then would you want to pay for a bunch of no-hopers to drink, smoke and laze away all day??? 25 odd percent of the working population are affected by the reduction in the top tax rate, yet they pay the lion's share of the taxes. Is that fair? And besides, income from trusts and the like are going to be taxed now too, so they are potentially getting hit a bit harder than it seems at first glance. Quote Share this post Link to post Share on other sites
3 SERIES 93 Report post Posted May 20, 2010 100% agree with you on this one Simon! Quote Share this post Link to post Share on other sites
Braeden320 0 Report post Posted May 20, 2010 +100 on simons comments Quote Share this post Link to post Share on other sites
cliffdunedin 8 Report post Posted May 20, 2010 Why should the people in the top tax bracket pay for all the beneficiaries, bludgers and underachievers? It's not only those in the top tax bracket that pays tax towards those...so my question to your question is, why should those in the other tax brackets have to pay? Quote Share this post Link to post Share on other sites
westy 614 Report post Posted May 20, 2010 (edited) Why should the people in the top tax bracket pay for all the beneficiaries, bludgers and underachievers? If you have earnings over $70K f**king good for you! I bet you didn't just walk into that job straight after school - you probably earned it through long hours, hard work and sacrifice. Why the f**k then would you want to pay for a bunch of no-hopers to drink, smoke and laze away all day??? 25 odd percent of the working population are affected by the reduction in the top tax rate, yet they pay the lion's share of the taxes. Is that fair? And besides, income from trusts and the like are going to be taxed now too, so they are potentially getting hit a bit harder than it seems at first glance. Ha. Thats perhaps a little harsh, but after getting 3/5ths of f**k all for 10years it's great to get finally get something for us. Just a shame it didn't happen while I was working. Oh and it seems the top 10percent pay 75percent of the cuntrys income. Edited May 20, 2010 by westy Quote Share this post Link to post Share on other sites
cliffdunedin 8 Report post Posted May 20, 2010 Oh and it seems the top 10percent pay 75percent of the cuntrys income. ??? care to elaborate. Quote Share this post Link to post Share on other sites
Guest Simon* Report post Posted May 20, 2010 Ha. Thats perhaps a little harsh, but after getting 3/5ths of f**k all for 10years it's great to get finally get something for us. Just a shame it didn't happen while I was working. Oh and it seems the top 10percent pay 75percent of the cuntrys income. ??? care to elaborate. He's exaggerating but that's pretty much my point too. Everyone thinks it's ok to be on the Govt's "wage" because "it's just the bloody Government" - unfortunate reality is where does the Government's money come from Quote Share this post Link to post Share on other sites
