Australian Tax Cuts

There has been lots of reporting about the significant tax cuts announced in Australia. People should be aware that these are being done with a much lower per capita than NZ, and that the Australian Labor Party says they do not go far enough. Back in NZ, Labour only puts tax up!

've just done a quick calculation on how much extra tax a person pays in tax in NZ, compared to Australia from 1 July. The first number is the level, the second is the absolute $ extra in tax, and the third is the % your tax is greater than in Australia.

$20,000 $1,530 72.9%
$30,000 $1,380 31.7%
$35,000 $930 15.9%
$40,000 $720 9.8%
$50,000 $1,020 9.9%
$60,000 $1,320 9.9%
$70,000 $2,220 13.6%
$80,000 $2,620 13.2%
$90,000 $2,520 10.6%
$100,000 $2,420 8.7%
$110,000 $2,320 7.3%
$120,000 $2,220 6.2%
$130,000 $2,120 5.3%
$140,000 $2,020 4.6%
$150,000 $1,920 4.0%
$160,000 $1,320 2.5%
$170,000 $720 1.3%
$180,000 $120 0.2%
$190,000 -$480 -0.7%
$200,000 -$1,080 -1.5%

So you will pay less in Australia for all incomes up to $180,000. And the biggest percentage drop in tax paid will be for those earning $20,000 to $35,000.

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