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: Would you want an unconventional funeral?
Funerals can cost as much as $22,000 and the planning can be stressful especially at a time when loved ones are grieving. Some New Zealanders are re-imagining funerals by making their own coffin or having a relaxed ceremony at home. Would you want a less traditional funeral? Share your thoughts below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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84.6% Yes
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13.4% No
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2% Other - I'll share below!
Celebrating Our Resident Authors On World Book Day
It was World Book Day on the 23rd of April, so what better time to celebrate some of our talented residents who have published books.
They range from children’s books, to poems, from non-fiction to a first novel - and all are proof that there is no age limit when it comes to creativity!
Click read more for the full story.
Double glazing
It is Getting colder now a good time to think about updating those tired old windows with a double glazed retro fit for a warmer cozier home in winter and more comfortable in summer.
I specialize in timber windows but do aluminium as well.
I offer great service and with 40 years experience I have many happy customers as I take pride in my work and endeavor to do the best job I can.
For a free friendly quote or advice contact Chris on 021642428 or vist my website www.soutar...
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