The Great Tax Robbery
The Great Tax Robbery
If you are able to save from your salary or wages you are being robbed – not by the banks but by the government.
Once you have, say, $1000 saved you may prefer to risk it on the share market but until you do the following happens (using current BNZ rates as it is our biggest bank but use your own figures, it does not change the story):
$1000 invested at 2.6% for 12 months gains $26 interest. Tax (at 30%) takes $7.80 leaving a new total of $1018.20 which ‘looks like’ profit of $18.20 BUT IS NOT.
With inflation (around) 2% though the real value, the purchasing power, of your original $1000 PLUS that interest (1018.20 x 0.98) is now only $997.84
Your $1000 (in terms of what it can buy) has lost money and the Government has taxed your losses – this only happens to savers, generally working people and the retired, not rich investors.
Robbery.
Poll: How do you feel about dogs being allowed indoors in cafes?
For most of us, seeing a friendly doggo while out and about instantly brings a smile to our faces. But how do you feel about cafes welcoming pups inside?
Cast a vote and share your thoughts below.
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27.8% I love it!
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31.6% Only in designated areas
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40.6% No, it should be outdoors only.
Support Pots for Tots with Resene!
Get painting and help Kiwi kids. Buy any Resene 60 mL testpot colour starting with the letter P, O or T and Resene will donate $1 to Plunket NZ.
Visit your local Resene ColorShop to find all the colour you need to bring out the best in your home.
New Childrens holiday program 7th-11th Oct
Childrens holiday program for 5-12 years 9am-3pm
come for week or for a day or 2
A new style Childrens program with a Chinese flavor
Book now 022 094 6682
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