With the cost of living still putting pressure on us and money being tight for many Kiwis, everyone is looking for ways to ease the strain on their wallets.
The government recently released its budget plans, promising some tax relief to help us keep more of our hard-earned cash.
The new budget includes a handy calculator to determine how much you or your household could benefit from the package. It provides estimates of your fortnightly and yearly savings.
SOURCE: budget.govt.nz
You'll need to input a few details – your annual income (before tax), whether you receive NZ Super (65+), if you have any dependent children, their ages, and early childhood education costs.
If you have a partner and want to see your combined savings, make sure to include their annual income as well.
This calculator is quite accurate for most people, but it doesn't account for those receiving benefits, student allowance, or the Minimum Family Tax Credit.
They assure us that it "won't add to inflation."
According to the government’s figures, around 1.9 million households will receive an average of $60 extra per fortnight.
While we are at it, might as well calculate what to expect in this year's tax return too. Every little bit helps, right?
