These tax changes make Australia and other countries look very tempting. I can handle higher tax, IF we get something in return. But there's all this squeeze for what? Fatter rich people? Do we really want another America, where CEOs and higher ups get billions of dollars IN BONUSES? Hell, I don't even really want to move to Australia, but it is better than what is in the foreseeable future. Putting all these limits on the Universities is too far.
I am not one to get upset on many issues but this is one I am. Its not just GST thats going up perhaps if that was the only thing then it would be kinda OK? Its the fact that rates are going up 3.7%, power 5%, petrol 6-10% (not to mention the 2.5% GST on top of each of these. ACC rates from the 1 April are increasing so my nett take home pay is going to decrease, yet the cost of the basics are increasing... how does one make this work on fixed wages? Sure we might get a tax break but unless it is very substantial it will probably barely cover these increases so therefore where is the benefit to the economy that everyone keeps talking about? Oh that must be the high earners. They can afford to hide/transfer money, charge expenses back to businesses. I think they should increase the tax brackets and leave GST as it is. During the resession there were numerious complaints on how high GST was now five minutes out of the recession they are increasing the rate.. come on!
NZ has to match Australian tax rates as soon as possible to a)keep people in NZ and b)attract people from overseas. I believe the recession has *delayed* this tax announcement, if not NZ has underlying structural problems to fix. Just what happened to the large surplus Labour was running....?