The Greens won't be happy - they believe a wealth tax should be applied to income much less than Labour's new 39% tax rate on individual income over $180K.
I wonder how many in Government are getting $180K+?
It's not going to full the coffers though so what's the bet it's just the start of things to come.
Don't be fooled by the rhetoric that our tax rates are better than those in Aussie - see this article on Stuff that explains their tax regime for individuals is more attractive...
Of course 2024 is still a long way off and anything can happen - like COVID, but if that is rolled out, Kiwis may be seeing the grass as a lot greener across the ditch. A brain drain is the last thing we will need as we recover and rebuild. Innovation will be key to new earnings opportunities and new jobs here in NZ, so we need the smart minds to stay here.
cheers,
Donna
I wonder how many in Government are getting $180K+?
It's not going to full the coffers though so what's the bet it's just the start of things to come.
Don't be fooled by the rhetoric that our tax rates are better than those in Aussie - see this article on Stuff that explains their tax regime for individuals is more attractive...
Australians earning over $90,000 currently pay 37 cents of tax in every dollar earned above that level
But he neglected to mention two things about the Aussies. One: that the first A$18,200 ($19,840) of every Australian?s personal income is tax-free
But he neglected to mention two things about the Aussies. One: that the first A$18,200 ($19,840) of every Australian?s personal income is tax-free
The 2024 tax cuts, which Australian Prime Minister Scott Morrison took to the 2019 federal election will see all Australians who earn up between $45,000 and $200,000 will pay a maximum income tax rate of 30 per cent.
cheers,
Donna
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