1 October Tax Cuts

John Key Bill English Finance Prime Minister

The tax changes on 1 October will strengthen the economy and help hard-working Kiwi families get ahead under their own steam.

TaxCuts

From 1 October 2010, personal taxes reduce across the board, GST rises to 15 per cent, and NZ Superannuation, Working for Families, and benefit payments increase to compensate for the rise in GST.

After these changes:

  • The average family will be about $25 a week better off
  • The average earner will be about $15 a week better off
  • A retired couple receiving only NZ Super will be about $11 a week better off.

Find out how the tax changes will benefit you. Visit the tax calculator at www.taxguide.govt.nz

These changes are an important part of the National-led Government’s plan to boost growth, create jobs, and raise incomes.

Announcements

13 October

Minister calls on companies to reconsider GST charge

Revenue Minister Peter Dunne has expressed disappointment that certain utility companies have chosen to charge GST at 15% for services supplied before the GST rate changed on 1 October.

4 October

Policy briefing video from Finance Minister Bill English

"Focus on Finance" newsletter from Finance Minister Bill English

1 October

Dunne: GST transition smooth, transparent and fair

Revenue Minister Peter Dunne today said the five-month lead-in to today's GST rate rise to 15 percent had been a far better process than the six weeks' notice New Zealanders had when the rate was last increased 21 years ago.

Dunne: Aligning tax rates today deals with avoidance

The aligning from today of the top tax rate and trust rates will be a major tool in stopping tax avoidance that has been a "$5 billion revenue hole begun when Labour hiked the top tax rate in 1999", Revenue Minister Peter Dunne says.

30 September

 

Tax changes strengthen economy, help families

The Government's tax changes tomorrow will strengthen economic growth and help New Zealand families get ahead, Finance Minister Bill English says.

GST compensation for beneficiaries

The National-led Government's tax reform package will see beneficiaries compensated tomorrow for the rise in GST. 

27 September

Labour's unfunded GST policy worth $1 a week

Labour's unfunded policy to remove GST from fresh fruit and vegetables would deliver only $1 a week for the average Kiwi - and much less for low income earners, Finance Minister Bill English says.

Labour irresponsible on GST

Labour's about-face in advocating removing GST from fresh fruit and vegetables after years of arguing for the simple GST system we have, is more about the main Opposition party polling at 30 percent than the health of New Zealanders, Revenue Minister Peter Dunne said today.

23 September

Mixed economic news - tax package will help

A fifth successive quarter of economic growth is another sign the recovery is continuing - and the Government's tax package next week will further help the economy in the long-term, Finance Minister Bill English says.

Dunne: tax cuts fair, equitable for all New Zealanders

Revenue Minister Peter Dunne today said critics of the fairness of the Government's tax reform package that comes into effect on Friday 1 October were "way off the mark".

22 September

Almost half a million page views for tax website

The Government's Budget 2010 tax calculator website www.taxguide.govt.nz is proving popular with New Zealanders and demand is increasing as 1 October approaches, Finance Minister Bill English says.

21 September

1 October tax cuts will boost real wages

The Government's 1 October tax changes will further boost real after-tax wages, leaving the vast majority of New Zealanders better off, Finance Minister Bill English says. [read on]

Tax reforms a boost for Superannuitants

The introduction of the National-led Government's tax reform package will see New Zealand Superannuation payments increase on 1 October 2010 and leave Superannuitants better off even after the GST increase. [read on]

Budget2010

1 October Fact Sheets

Fact Sheet – Personal Tax Cuts
Fact Sheet – Salary and Wage Earners Table
Fact Sheet – NZ Super and Veterans Pension
Fact Sheet – GST and Compensation
Fact Sheet – Savings Tax Changes
Tax Changes – How they affect New Zealanders – Scenarios