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.
Minimalist Design in Apartment Living
Ryman’s Charles Upham Retirement Village resident Di is a former fashion designer, artist and self-confessed shoe hoarder who travels, still paints and has stamped her eclectic minimalist style on her apartment.
She gives us her top 3 design tips on how she’s turned her space into a beautiful home.
Hi, what's your name?
We want to get to know our neighbours and we think you do too!
Simply share a little about yourself on the Know Thy Neighbour page and others will follow suit (you could also win one of our 10 x $50 Prezzy® cards!).
Are you the go-to person for baking advice (and a cup of sugar!) or have some computer skills that you're happy to share? We'd love to know.
Whether you're looking for others to join you on your walks, or just wanting to know more about your neighbours, go ahead and introduce yourself.
Poll: How much is your monthly BROADBAND bill?
Internet is something we need these days for work, study, keeping in touch with loved ones or just to watch a movie! It's another bill to manage right?!
With the cost of living rising, how much your broadband bill is setting you back each month?
Let's help each other SAVE money!
-
21.7% Under $70
-
18.8% $70-$80
-
19.9% $80-$90
-
39.7% Over $90