Budget 2024

Budget 2024: Winners, Losers, and Tax Relief Galore

Find out who wins, who loses, and how tax relief is shaping up in the latest Budget 2024!

The Budget 2024 has stirred up excitement and controversy, revealing winners and losers in the financial landscape. With 1.9 million households set to benefit from an average of $30 a week, the relief package is welcomed news for many. However, as with every budget, disparities exist, highlighting the divide between the haves and have-nots. Finance Minister Nicola Willis rolled out tax cuts and surprises, aiming to provide tax relief for the 'squeezed middle.' The debate rages on, questioning who truly benefits from the budget's provisions. Amidst it all, kapa haka enthusiasts rejoice as Te Matatini secures a significant funding boost starting in 2025/26, a move celebrated by many in the Māori community.

As the dust settles on Budget 2024, the tax calculator introduced by RNZ becomes a handy tool for New Zealanders eagerly anticipating more money in their pay packets. Finance Minister Nicola Willis's speech underscores the government's commitment to funding Te Matatini, with protests echoing nationwide in response. The Budget's fiscally neutral package, funded through specified savings and revenue initiatives, aims to strike a balance between financial responsibility and support for crucial initiatives like the national kapa haka festival. With a focus on households, key changes such as increased Working for Families credit and in-work tax credit adjustments are set to impact numerous families positively.

In a spinoff hot-take roundtable, experts analyze the budget's moderate and responsible approach put forward by Finance Minister Nicola Willis. The buzz around the biggest investment in kapa haka history resonates strongly, as the funding injection of $48.7 million over the next three years promises growth and opportunities for Te Matatini. Excitement builds as households anticipate the forthcoming changes in Working for Families and tax credit adjustments, bringing tangible benefits to many families across New Zealand.