Discover the winners, losers, and tax relief measures in New Zealand's Budget 2024. Find out how households are impacted and who benefits the most!
Budget 2024 has finally been revealed, causing a buzz across New Zealand. The budget includes key changes that will directly affect households, such as the increase in the Working for Families credit and the boost in the in-work tax credit by $25. With 1.9 million households expected to benefit from an average relief package of $30 per week, families with children are set to see a positive impact. However, as with any budget, there are winners and losers. Finance minister Nicola Willis implemented tax cuts and surprises, aiming to provide relief to the 'squeezed middle.' The budget has received mixed reviews, with experts debating its moderation and responsibility.
In her Budget 2024 speech, Nicola Willis emphasized the importance of the Appropriation Bill for the upcoming fiscal year. The budget promises tax relief for the 'squeezed middle,' balancing the need for cuts with responsible financial management. The Spinoff hot-take roundtable delves into the deeper implications of the budget, analyzing its moderate approach and the implications for different sectors of society. As the budget unfolds, the winners and losers become clearer, painting a nuanced picture of the impact on New Zealanders.
Nicola Willis's budget marks a significant milestone in New Zealand's fiscal policy, introducing measures to support households and provide tax relief. The budget not only affects the economy but also has direct implications for families, with the Working for Families credit and in-work tax credit adjustments at the forefront of changes. As debates continue on the budget's effectiveness, the focus remains on how it will shape the lives of Kiwis in the coming year.
Here are 10 things that affect households in this year's Budget. Working for Families credit. From 31 July, the in-work tax credit will be increased by $25 a ...
The Budget documents stated 1.9 million households would benefit from the overall relief package by an average of $30 a week. Households with children would ...
By RNZ This year's Budget has been revealed and like any year, there are the haves and have-nots. While some of it is up for debate depending on what side ...
Finance minister Nicola Willis made good on two promises with her first budget โ tax cuts and no surprises. But the belt tightening required to do that will ...
Finance minister Nicola Willis describes her budget as moderate and responsible. But what do the experts think?
I move that the Appropriation (2024/25 Estimates) Bill be now read a second time.
The majority of New Zealanders are due for a tax cut before the end of the year - but debate is expected to continue over whether the Government is ...
The promise of tax cuts isn't enough to disguise the other clear message in the government's Budget: the economic outlook is still gloomy.
Budget 2024 sets out the Government's plan to rebuild the economy, ease the cost of living, deliver better health and education services and restore law and ...
There have been big changes to health, education, law and order, and a big funding boost for the regions. New tax thresholds are also due to come into effect ...
It is not available to people who are receiving an income-tested benefit or student allowance. Once a household earns $42,700, Working for Families entitlements ...
Vickie Hudson-Craig pays $5500 a month for the drugs that keep her alive. Now her hope is "wiped away".
The Government has confirmed universal free prescriptions will be axed in July with the $5 co-payment restored for most New Zealanders.
-$3.7 billion annual cost of the tax package is fully funded through specified savings and revenue initiatives. -Fiscally neutral package means the Government ...
The Finance Minister says the Budget delivered on its promises - but many cancer patients disagree.
A cancer patient is disappointed with a lack of funding for new medicines in Budget 2024 , and expects it will be years until the drug that helped her stay.
The Finance Minister says she "regrets" funding for extra cancer drugs was not possible in Budget 2024, despite it being promised during the election ...
Health will get a significant funding boost of $16.68 billion across three Budgets as part of our plan to invest in frontline services such as emergency ...
Minister for Pacific Peoples Dr Shane Reti said his main priorities as the minister will be housing, economic development, education, employment and health.
Follow our live Budget Day coverage here. Use the Herald 's interactives to explore the details of Budget 2024 and to calculate your income tax cut. The...
Green Party co-leader Chlรถe Swarbrick talks to Jenee Tibshraeny about Budget 2024. Video / Marty Melville.