Grind Posted March 30, 2009 Share Posted March 30, 2009 As of Wednesday this week. Enjoy. Link to comment Share on other sites More sharing options...
zeb Posted March 30, 2009 Share Posted March 30, 2009 more like happy tax refunds..... last day to file them today peeps.... www.taxrefunds.co.nz Link to comment Share on other sites More sharing options...
Pakage Posted March 30, 2009 Share Posted March 30, 2009 reckon i can get a tax refund on my benefit? Link to comment Share on other sites More sharing options...
Grind Posted March 30, 2009 Author Share Posted March 30, 2009 more like happy tax refunds.....last day to file them today peeps.... www.taxrefunds.co.nz no no.. i'm talking about the general tax cuts that come into play from april 1st - http://www.ird.govt.nz/news-updates/like-to-know-april-2009-tax-changes.html alsot there's no 'last day' to file those tax refunds.. you can do them whenever you want. like if you forgot to do it for 2002 year or whatever, you could still do it now. Link to comment Share on other sites More sharing options...
perceptualChaos Posted March 30, 2009 Share Posted March 30, 2009 sweeeeeeeeeeeet - extra $3 per week for me. Looks like I can buy that Ferrari I've always wanted now Tbh I don't agree with the tax cuts - they make fuck all difference to most people except the really wealthy people who have the upper tax bracket coming down. Should just adjust the position of the brackets to be more inline with current wage distributions rather than actually lowering the brackets IMO. Link to comment Share on other sites More sharing options...
perceptualChaos Posted March 30, 2009 Share Posted March 30, 2009 stink how the compulsory kiwisaver employer contribution is going to stay fixed at 2% as well. http://www.ird.govt.nz/news-updates/like-to-know-april-2009-kiwisaver-changes.html Link to comment Share on other sites More sharing options...
Nato Posted March 30, 2009 Share Posted March 30, 2009 stink how the compulsory kiwisaver employer contribution is going to stay fixed at 2% as well. http://www.ird.govt.nz/news-updates/like-to-know-april-2009-kiwisaver-changes.html Yeah, although technically thats still a 1% increase for this year as currently they are only giving 1% as per the enstated 1% increase for 4 years which was part of the original kiwisaver policy. So this year we will still see that 1% increase but next year is when they pull out the large rubber phallus and ask us to bend over. Link to comment Share on other sites More sharing options...
Known One Posted March 30, 2009 Share Posted March 30, 2009 As of Wednesday this week. Enjoy. Yay!... this was a Labour thing right? Link to comment Share on other sites More sharing options...
zeb Posted March 30, 2009 Share Posted March 30, 2009 more like happy tax refunds.....last day to file them today peeps.... www.taxrefunds.co.nz no no.. i'm talking about the general tax cuts that come into play from april 1st - http://www.ird.govt.nz/news-updates/like-to-know-april-2009-tax-changes.html alsot there's no 'last day' to file those tax refunds.. you can do them whenever you want. like if you forgot to do it for 2002 year or whatever, you could still do it now. i filed for refunds for the last 5 years but it says on their website if you dont file by 31st of march(today) you cant claim those refunds until next year..... im looking at about a grand though so im stoked as fuck... Link to comment Share on other sites More sharing options...
Nato Posted March 30, 2009 Share Posted March 30, 2009 I saw on the news that people earning under $40k don't actually get anything. These must be some National tax cuts because they are rewarding those who earn more (hence pay more tax) and not those who earn less and have more direct needs for that money. If these tax cuts had anything to do with National trying to stimulate the economy they are looking at it all wrong. Providing the lowest wage earners with at least some tax cut would almost guarantee that extra money gets injected directly back into the economy via day to day spending, whereas providing somebody on 100k with a big tax cut basically ensures that extra money will probably just end up sitting in a bank. I dunno, seems a bit backwards to me, tax cuts given out to those who need them the least... Link to comment Share on other sites More sharing options...
perceptualChaos Posted March 30, 2009 Share Posted March 30, 2009 That's not actually technically true cause they introduced the IETC for people that earn low wages http://www.ird.govt.nz/income-tax-individual/ietc/ although that's a maximum of $10 per week which is still not that much in the greater scheme of things. The wealthy (>> $70k) still benefit from the cuts the most. Link to comment Share on other sites More sharing options...
Grind Posted March 30, 2009 Author Share Posted March 30, 2009 Yep - the IETC is the tax credit for those on $24-48K per annum Aside from that, yes high income earners benefit the most as they will now only pay 38% (of anything they earn over $70K) tax, whereas they used to pay 39% (of anything over $70K) tax. Overall the high income bracket still gets taxed at almost twice the rate of low income earners though so it's not so bad Link to comment Share on other sites More sharing options...
Nato Posted March 30, 2009 Share Posted March 30, 2009 Yep - the IETC is the tax credit for those on $24-48K per annum Aside from that, yes high income earners benefit the most as they will now only pay 38% (of anything they earn over $70K) tax, whereas they used to pay 39% (of anything over $70K) tax. Overall the high income bracket still gets taxed at almost twice the rate of low income earners though so it's not so bad Yep I understand the high tax bracket is taxed much more heavily than the lowest one. There is no debating that. Any talk of tax cuts stimulating the economy is daft though, these tax cuts are just paying people back for their vote last year. It's not all bad though...now I get to sit back and try and think of ways to spend my $16..... Link to comment Share on other sites More sharing options...
perceptualChaos Posted March 30, 2009 Share Posted March 30, 2009 Yep - the IETC is the tax credit for those on $24-48K per annum Aside from that, yes high income earners benefit the most as they will now only pay 38% (of anything they earn over $70K) tax, whereas they used to pay 39% (of anything over $70K) tax. Overall the high income bracket still gets taxed at almost twice the rate of low income earners though so it's not so bad Yep I understand the high tax bracket is taxed much more heavily than the lowest one. There is no debating that. Any talk of tax cuts stimulating the economy is daft though, these tax cuts are just paying people back for their vote last year. It's not all bad though...now I get to sit back and try and think of ways to spend my $16..... $16... woah no shit I must have hit a wrong button on the calculator or something. 8000*(.33-.21)=$960/year or $18.60 per week. That's actually pretty decent. Basically pays for my beers Bout time they raised the upper tax bracket though - long overdue IMO Link to comment Share on other sites More sharing options...
baseline Posted April 4, 2009 Share Posted April 4, 2009 Bout time they raised the upper tax bracket though - long overdue IMO IMO, this increase doesn't go far enough. Until recently, the brackets hadn't been changed since '96 (iirc). To say that $70k is our top tax bracket is a joke. Australia's is in the ~200k range I think. And of course the top earners are going to benefit most from this kind of thing, they pay the most tax! Link to comment Share on other sites More sharing options...
perceptualChaos Posted April 4, 2009 Share Posted April 4, 2009 (edited) Bout time they raised the upper tax bracket though - long overdue IMO IMO, this increase doesn't go far enough. Until recently, the brackets hadn't been changed since '96 (iirc). To say that $70k is our top tax bracket is a joke. Australia's is in the ~200k range I think. I completely agree... considering the median income increased from ~$22k in 1998 to ~$28k in 2008 the upper bracket should already be up around at least $51k. It should go up every year to match inflation IMO. And of course the top earners are going to benefit most from this kind of thing, they pay the most tax! Agree that equal tax-cuts across the board would give the most back to the high earners (obviously) which is why I think the cuts shouldn't be applied across the board. Tax cuts generally imply cutting government spending - it's not like the money comes from nowhere... so they should only be used to help those who are really in need IMO. Like people earning >$120k are not the people who really need the money on a day to day level which is why I think tax cuts shouldn't apply to the income earned over some threshold up in that region. Edited April 4, 2009 by Guest Link to comment Share on other sites More sharing options...
Dr Awesome Posted April 4, 2009 Share Posted April 4, 2009 Bout time they raised the upper tax bracket though - long overdue IMO IMO, this increase doesn't go far enough. Until recently, the brackets hadn't been changed since '96 (iirc). To say that $70k is our top tax bracket is a joke. Australia's is in the ~200k range I think. I completely agree... considering the median income increased from ~$22k in 1998 to -> $28k in 2008 the upper bracket should already be up around at least $51k. It should go up every year to match inflation IMO. And of course the top earners are going to benefit most from this kind of thing, they pay the most tax! Agree that equal tax-cuts across the board would give the most back to the high earners (obviously) which is why I think the cuts shouldn't be applied across the board. Tax cuts generally imply cutting government spending - it's not like the money comes from nowhere... so they should only be used to help those who are really in need IMO. Like people earning >$120k are not the people who really need the money on a day to day level which is why I think tax cuts shouldn't apply to the income earned over some threshold up in that region. 100% Agree. Link to comment Share on other sites More sharing options...
Teknik Posted April 4, 2009 Share Posted April 4, 2009 Meh, what the hell would poor people do with more money anyway? They'd do something gay like buy food or keep themselves sheltered or warm. BORING. Give it to the people who can do something cool with it instead, like buy an EVEN MORE MASSIVE TV or a fourth house or a couple of brand new 4WDs that only get taken out of storage twice a year. The poor have already proven that they don't even really like money anyway, cos if they did like it, they'd have more of it. DUUUUH. Link to comment Share on other sites More sharing options...
Taiko Posted April 4, 2009 Share Posted April 4, 2009 Meh, what the hell would poor people do with more money anyway? They'd do something gay like buy food or keep themselves sheltered or warm. BORING. Give it to the people who can do something cool with it instead, like buy an EVEN MORE MASSIVE TV or a fourth house or a couple of brand new 4WDs that only get taken out of storage twice a year. The poor have already proven that they don't even really like money anyway, cos if they did like it, they'd have more of it. DUUUUH. 100% Agree. Link to comment Share on other sites More sharing options...
Pakage Posted April 4, 2009 Share Posted April 4, 2009 wahaha Link to comment Share on other sites More sharing options...
joachim Posted April 6, 2009 Share Posted April 6, 2009 Meh, what the hell would poor people do with more money anyway? They'd do something gay like buy food or keep themselves sheltered or warm. BORING. Give it to the people who can do something cool with it instead, like buy an EVEN MORE MASSIVE TV or a fourth house or a couple of brand new 4WDs that only get taken out of storage twice a year. The poor have already proven that they don't even really like money anyway, cos if they did like it, they'd have more of it. DUUUUH. 100% Agree. Let them eat cake imo Link to comment Share on other sites More sharing options...
Dr Awesome Posted April 6, 2009 Share Posted April 6, 2009 Talked to the accounts girl at work today. I literally get an extra $10 a fortnight. Fucking bigups. Link to comment Share on other sites More sharing options...
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