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  1. #1
    Senior in age member
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    Default screw the pensioners

    I am not a maths wizard so this might be wrong but if my pension is $300/week of which I spend every cent of that, then with GST at 12.5% I donate to the Government $37.50

    I have purchased good to the value of $262.50

    If my pension is increased by 2% I now get $306.

    When GST goes up to 15% then I donate to the government $45.90

    I have purchased goods to the value of $260.10.

    A net loss of $2.40 in my spending power.

    And of course the costs of all goods will rise

    Screw the pensioners

  2. #2
    Soaring like an Eagle gary67's Avatar
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    Default Re: screw the pensioners

    As usual

  3. #3
    Awaiting Enlightenment R2x1's Avatar
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    Default Re: screw the pensioners

    The tax benefits actually kick in pretty strongly once you can get your pension over $600,000.00 p.a.

    Until then, please be patient and trust that Lord Key and his merry Dukes will be looking out for you.
    Entropy is not what
    it used to be.



  4. #4
    Pedantic Bloke Sweep's Avatar
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  5. #5
    In a 1920s time warp Terry Porritt's Avatar
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    Default Re: screw the pensioners

    ................and don't forget that your RWT (resident withholding tax) will increase from 19.5% to 21% from 1 April if your earnings exceed $14500 pa.

    Edit; the lord giveth, and the lord key taketh.........

  6. #6
    Pedantic Bloke Sweep's Avatar
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    Default Re: screw the pensioners

    And don't forget the new Carbon taxes kicking in!!

  7. #7
    Old fella smithie 38's Avatar
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    Default Re: screw the pensioners

    Are we only going to get 2%

  8. #8
    Pedantic Bloke Sweep's Avatar
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    Default Re: screw the pensioners

    He doesn't really say does he. Is it a 2% increase in the gross then also a reduced income tax or what?

  9. #9
    In a 1920s time warp Terry Porritt's Avatar
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    Default Re: screw the pensioners

    Quote Originally Posted by Terry Porritt View Post
    ................and don't forget that your RWT (resident withholding tax) will increase from 19.5% to 21% from 1 April if your earnings exceed $14500 pa.

    Edit; the lord giveth, and the lord key taketh.........
    I have that slightly wrong, quote from bank " The current 19.5% RWT rate will change to 21% and we'll need to move all customers on 19.5% to this new rate on 1 April 2010."

    Also: " A new RWT rate of 12.5% will be available for individuals who have a reasonable expectation that their total anual income will be $14000 or less"

  10. #10
    Senior in age member
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    Default Re: screw the pensioners

    2% is what Keys is promising if the GST goes to 15%.

    However he is also saying our income tax rate will drop.

    I havent seen how much or when that will happen.Bet it is not the same time the GST goes up.

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