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.
Neighbourhood Challenge: Who Can Crack This One? ⛓️💥❔
What has a head but no brain?
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
Want to stop seeing these in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Poll: Is it ok to regift something that you have been given?
🎁 Holiday Gift Chat!
Do you ever regift?
What’s your take on asking for a receipt if a gift doesn’t fit?
-
77.9% Yes! It's better to regift what I don't need
-
22.1% No. It's the thought and effort that matters
Calling all those in Wheelchairs
Hi, I'm Simon .... a 44 yr old wheelchair user who wants to meet others in a similar position as myself (particularly a woman). I've been a sole parent now for almost 18 years and my son has just left the nest, so I thought it was time to start on the next stage of my life. I have cerebral palsy that effects just my legs (kinda the reason I can't walk) sooooooo if any of you are interested in getting to know me, flick me a message. I enjoy spending time with my son when he comes to visit and my pets (1 cat and 2 birds), I also enjoy building computers as well as a bit of gaming/watching TV too. So if this sounds like something you'd be interested in, shoot me a message.
Loading…
