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Thread: The many ways "our" National Government has already changed our lives financially:

  1. #1
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    The many ways "our" National Government has already changed our lives financially:

    NOTE: Please do not add meaningless posts to this thread. Try to keep it factual please!!

    I know that we have been living beond our means. That there was some cost cutting needed to get things to balance. After all, Labour made us all beneficiaries (think Family Tax Credit, 20h free childcare and more).

    I was trying to look for somewhere where I could easily find all the changes National had already done. But I failed. So I thought, that as KB is such a diverse community, where better to get all the facts?

    So I will here start off with what I already know has been done:
    ( I also have some inside info re other changes that currenty are "at discussion stage", but I will not here add anything that is not in place already)

    1. The easy one: GST will increase from 12.5% to 15% in October.

    2. The Earners' Account Levy (paid by all employees and self employed to cover their non-work, non-motor vehicle injuries) increased from $1.70 to $2.00 (including GST) per $100 of liable earnings from 1 April 2010.

    3. The average composite employer and self-employed levy increased from $1.31 to $1.47 per $100 of payroll from 1 April 2010. This levy excludes GST and is an average rate. Individual rates for industry groups may be higher or lower.

    4. ACC petrol levy was increased from 9.34 cents per litre to 9.90 cents per litre from 1 July 2009.

    5. Licensing fee increases for motorvehicles from 1 July 2010 (full year fee)

    Passenger car
    .................................................. ............................................Old fee ..New fee

    Petrol driven - private$?.???$281.61
    Petrol driven - taxi$338.11
    Petrol driven - rental$338.11
    Non-petrol driven - private$408.65
    Non-petrol driven - taxi$465.14
    Non-petrol driven - rental$465.14
    Trailer
    Less than 3500kg $35.12
    Motorcycle
    Moped .................................................. ................................ $130.00$170.00


    Petrol driven - less than 61cc$394.38
    Petrol driven - 61-600cc$405.63
    Petrol driven - 601cc and over$321.24$517.25
    Goods truck/van/utility
    Private passengerPetrol driven - 1-3500kg GVM$326.26
    Petrol driven - 3501-6000kg GVM$327.76
    Non-petrol driven - 1-3500kg GVM$583.81
    Non-petrol driven - 3501-6000kg GVM$585.30
    Transport licensed goods Petrol driven - 6000-12000kg GVM$382.76
    Non-petrol driven - 6000-12000kg GVM$640.31
    Other (standard) goods Petrol driven - 1-3500kg GVM$326.26
    Petrol driven - 3501-6000kg GVM$327.76
    Non-petrol driven - 1-3500kg GVM$583.81
    Non-petrol driven - 3501-6000kg GVM$?.?? $585.30

    NOTE: If someone has the old licensing fees, please PM me and I will insert here (a nightmare, but will sort it...)

    5. Childcare subsidies to centres. From 1 February 2011 there will me major changes in the way Childcares are funded by Ministery of Education. I won't get too deep in to this as it is a complicated thingy. But here the main ones:
    - Childcares are currently funded based on how many qualified teachers they have on the floor. There is a formula that means 100% of available funding. To achieve this you need a full quota of qualified staff. (Does not mean all staff are qualified)
    - From 1 Feb 2011 there will be no additional funding above 80% of that quota being qualified. This means that all childcare centres that have worked hard to achieve that 100% mark will have qualified staff that cost more but will give no additional funding, meaning losses.
    - From 1 February 2011 the current 80% threshold funding will be reduced. National is yet to tell us what the new 80% funding will be. But the indication is that there will be no incentive to have a higher quota of qualified than 50% as the financial benefit will be zero.

    All this means lower quality of childcare as qualified ECE teachers will not be employed. A little like saying that your kids will be cared for at schools by unqualified teachers...

    6. Tax cuts.
    Here's what the personal tax cuts from October are:
    - Income up to $14,000 will be taxed at 10.5%, down from the current 12.5%
    - Tax on income from $14,001 to $48,000 will be 17.5%, down from 21%
    - Income from $48,001 to $70,000 will be taxed at 30%, down from the current 33%
    - The top tax rate, on income over $70,000 will be cut to 33% from 38%

    7. ETS. From 1 July 2010
    It estimates households will pay about $3 more a week or $165 a year, based on increases of 3.5 cents a litre for petrol and about 1.5c per kilowatt hour for electricity
    - Petrol went up 3 - 4c/litre depending on stations.
    - Contact said the ETS would result in an average residential price rise for its customers of 3.2 percent. For an average residential customer this works out at around $62.37 for electricity and $21.87 for gas per annum.
    I did read that power would go up approx 5%. For me that means around $150/year.

    8. Company Tax rate
    From 1 April 2011 the company tax rate will be lowered from current 30% to 28%.

    9. Resident Witholding Tax (Tax on interest on your savings)
    From 1 April 2010 the RWT is aligned with your Income tax. This means that instead of a static 19.5% RWT you will now pay the same amount on your interest earned as on your income.

    10. Preventing those with rental losses (from rental properties) from using the losses to access family assistance (Working for Families tax credits) and other benefits. From 1 April 2011, such losses will no longer be offsetable when calculating entitlements to benefits.




    Please add what you know about and I have not here already posted.
    Last edited by Conquiztador; 14th July 2010 at 20:23. Reason: Added #6 Tax Cuts, #7 ETS, #8 Company tax rate. #9 RWT, #10 Rental losses,

    May the bridges I burn light the way.

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  2. #2
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    I presumed that "changed" in this case means negatively, as you've entirely ignored the tax cuts.
    Quote Originally Posted by rachprice View Post
    Jrandom, You are such a woman hating cunt, if you weren't such a misogynist bastard you might have a better luck with women!

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    Quote Originally Posted by Mully View Post
    I presumed that "changed" in this case means negatively, as you've entirely ignored the tax cuts.
    the so called tax cuts are spurious as when you factor the related increases gst etc then in real terms all wage and salary earners are net worse off.

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    Quote Originally Posted by Mully View Post
    I presumed that "changed" in this case means negatively, as you've entirely ignored the tax cuts.
    True! Plus one on comment!

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    3 words in one - ETS
    Do you realise how many holes there could be if people would just take the time to take the dirt out of them?

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    Quote Originally Posted by Bald Eagle View Post
    the so called tax cuts are spurious as when you factor the related increases gst etc then in real terms all wage and salary earners are net worse off.
    Sorry to drag this slightly off topic, I wont do it again

    If I actually thought for a second that any politician, of any party and at any level, gave a rat's arse about making the country a better place, I'd happily pay more tax than I do now.

    Unfortunately, they're all the fucking same. They're there for themselves, their whanau and their mates. Fuck the population (except every three years when they'll make all the promises in the world).

    Therefore, I go on what makes me better off. The GST increase (which lets be honest, adds $5 to a $200 trolley of groceries) isn't a major to me. We are using the additional cash to pay off our debt (which if everybody did, would make the country much better off).
    Likewise, once the 12 months rego on the bike expires, I'll chuck the rego on hold over winter - currently I pay for it and don't often get to ride, but I'll make the sacrifice.

    Plus I'm on the top tax rate, so I'll get a reasonable tax cut when the top rate is dropped (hooray) - again, I have to do what's best for me (and Mrs Mully, and baby Mullys if we had any) - I make no apologies for that, cos I'm fucked if I believe politicians will help me.

    EDIT: Actually, can a Mod delete this please. I dragged it too far off topic. I'm either preaching to the choir, or people don't want to know.
    Quote Originally Posted by rachprice View Post
    Jrandom, You are such a woman hating cunt, if you weren't such a misogynist bastard you might have a better luck with women!

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    Thanks for comments.

    I never stated that I had listed all financial changes. As my old brain hits in to gear more will pop up I am sure. But that is what is good with a community (like our blessed KB) what I forget someone else will remember.

    Now, if you would like to add the actual figures to the posts this could be of some use.

    Re the tax cuts: No this is not about negative stuff only. So please, add the atual figures for the tax cuts. As far as I know it is the only "positive" one. For the high income earners in particular.

    May the bridges I burn light the way.

    Follow Vinny's MX racing on www.mxvinny.com


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    Quote Originally Posted by Bald Eagle View Post
    the so called tax cuts are spurious as when you factor the related increases gst etc then in real terms all wage and salary earners are net worse off.
    That's the point... factor them in then. Otherwise it makes this thread just that little bit more pointless

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    Quote Originally Posted by Bald Eagle View Post
    the so called tax cuts are spurious as when you factor the related increases gst etc then in real terms all wage and salary earners are net worse off.
    Sez who?
    Do you have any facts to back this up?

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    yes National has raised the price of living to pay for the massive debt we have, i would much rather they would have saved money in other ways, 1st up for me would have been to put interest back on student loans, and got rid of working for families which puts people on 60-80k a year on the benefit.

    tax cut will be good tho when it comes, i think aligining the top tax rates is a good thing, alot of poeple hide money thorugh companies or trusts so it will make it more fair imo

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    Inflation and interest rates... wish i knew what they were, but i don't...
    I didn't think!!! I experimented!!!

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    Quote Originally Posted by scott411 View Post
    1st up for me would have been to put interest back on student loans
    I know they get a lot of abuse, but maybe it's better to prevent the abuse with a big stick than take away the carrot? My family for one is generating considerably more tax revenue than we ever did before we earnt degrees care of the government's student loan scheme.

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    #6 Tax Cuts and #7 ETS has now been added to initial post. Also #8 Company tax rate

    May the bridges I burn light the way.

    Follow Vinny's MX racing on www.mxvinny.com


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    Let's not forget the business tax rate being lowered.
    TOP QUOTE: “The problem with socialism is that sooner or later you run out of other people’s money.”

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    Quote Originally Posted by scott411 View Post
    i would much rather they would have saved money in other ways, 1st up for me would have been to put interest back on student loans,
    What's the point? The money's not being paid back as fast as the student loans are being taken out ... so the overal debt is increasing ... a paper exercise at best ... no real collection of money ...
    "So if you meet me, have some sympathy, have some courtesy, have some taste ..."

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