I have done these myself. I think they are accurate but they were done quickly. If people spot an error, let me know.
This shows how much annual tax you pay at income levels as of today (taking into account Labour’s tax cuts) and how much your annual tax will be starting in April when National’s cuts would take effect.
The biggest percentage reduction in tax is those at the lower end of the income scale.
This is based on the following:
- 12.5% to $14,000
- 21% to $48,000
- 33% to $70,000
- 38% over $70,000
- A $520 rebate for incomes from $24,000 to $44,000 then abating at 13% until $48,000
Tables for 2011 to come.