National is obviously promising tax cuts, that cost the country just under $2 billion for a full year.
- If you earn over $48k and under $52k this will save you $560 per year
- If you earn over $52k it will save you $1060 per year
Labour is looking to take this tax cut away.
This was some interesting info I found when researching for my blog earlier this week.
Currently anyone who earns over $90,000 is in the top 11% of income earners. This 11% of earners pay 48% of the national tax! If we round the figures a little, 10% of people are paying 50% of the tax. Should higher income earners really be paying more tax?
If you earn over $40,000, you are in the top 42% of income earners, and this 42% of income earners pay 85% of the national tax!
Source: http://www.treasury.govt.nz/budget/2017/at-a-glance/b17-at-a-glance.pdf
What do think? Most of the people due the tax refund would be part of the 42% of income earners paying 85% of the tax. Should they get a small tax refund and reduce their tax contribution to the country slightly?
Ross
- If you earn over $48k and under $52k this will save you $560 per year
- If you earn over $52k it will save you $1060 per year
Labour is looking to take this tax cut away.
This was some interesting info I found when researching for my blog earlier this week.
Currently anyone who earns over $90,000 is in the top 11% of income earners. This 11% of earners pay 48% of the national tax! If we round the figures a little, 10% of people are paying 50% of the tax. Should higher income earners really be paying more tax?
If you earn over $40,000, you are in the top 42% of income earners, and this 42% of income earners pay 85% of the national tax!
Source: http://www.treasury.govt.nz/budget/2017/at-a-glance/b17-at-a-glance.pdf
What do think? Most of the people due the tax refund would be part of the 42% of income earners paying 85% of the tax. Should they get a small tax refund and reduce their tax contribution to the country slightly?
Ross
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