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.
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New Store Open
We are open in our new Nelson Store...whoop whoop
Just served our first customer.
Come on down to 52 Vanguard St and see Martine and the team browse all the goodies we have to offer you.
This means sadly our time in Stoke has come to an end. We would like to take this opportunity to thank the Stoke community for all their support, it has been a pleasure to get to know many of you. I invite you all to come and visit us in our wonderful new store.
The Red Cross Store at 76 Vanguard St remains open for another few weeks so get in there for some absolute bargains.
Potted colour
Express yourself with this artistic dip-dye paint effect using Resene paints. Find out how to create your own with these easy step by step instructions.
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